OPPORTUNITY FOR
DEFAULTING COMPANIES AND ITS DIRECTORS
Due to stricter regime for defaulting
companies with higher additional feeas per New Companies Act 2013 and on
representation by defaulting companies MCA has given one time opportunity by
declaring CLSS 14 (company law
settlement scheme-2014). In this Scheme
MCA gives immunity for prosecution to directors of defaulting companies and
gives an opportunity by condoning the delay in filing annual reports, financial
statement and related documents due for filing on or before 30/06/2014 and
charging reduced fee. Such defaulting companies can avail this one time
opportunity to e- file these documents before15/10/2014.
SALIENT
FEATURES
v Scheme is valid for two months from 15th
August 2014 to 15th October 2014
v The defaulting Company shall for filing of
belated documents by paying only
normal fee plus 25% of additional fee payable.
v Application for issue of Immunity Certificate after filing of belated documents and after
they are approved by MCA has to be E-Filed and such application form will be
available on MCA Portal from 1st September, 2014. Such Application may be filed
without any fee but before 15.01.2015 ( not later than 3 months from the date of
the closure of the scheme )
v Immunity from prosecution of the directors of
defaulting companies
v Avoid disqualification under section 164(2) of
the companies act, 2013 of all the directors.
v Scheme applicable for all forms due to be
filed till 30/06/2014 i.e 23AC, 23ACA, 23AC-XBRL, 23ACA-XBRL, 20B, 66, 23B, 21A
due till 30/06/2014
v The defaulting inactive companies
a)
Can apply to get
themselves as dormant Company by filing MSC -1 at 25% fee, OR
b)
Can apply for striking
off the name by filing FTE at 25% of fee payable
