Company Law Settlement Scheme grants immunity from prosecution for delayed statutory filings through lump sum regularisation fees. The Company Law Settlement Scheme, 2000 allowed defaulting companies or officers to declare to the Registrar of Companies and pay a one time lump sum fee, scaled by number of documents and period of delay, to obtain immunity from prosecution and compounding of late statutory filings; the Scheme's period and fees were extended with an added surcharge, and a separate fast track exit procedure under the Companies Act enabled striking off defunct companies subject to prescribed forms, affidavits, indemnity bonds, and waivers for inapplicable statutory clearance certificates.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Company Law Settlement Scheme grants immunity from prosecution for delayed statutory filings through lump sum regularisation fees.
The Company Law Settlement Scheme, 2000 allowed defaulting companies or officers to declare to the Registrar of Companies and pay a one time lump sum fee, scaled by number of documents and period of delay, to obtain immunity from prosecution and compounding of late statutory filings; the Scheme's period and fees were extended with an added surcharge, and a separate fast track exit procedure under the Companies Act enabled striking off defunct companies subject to prescribed forms, affidavits, indemnity bonds, and waivers for inapplicable statutory clearance certificates.
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