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of <h1>Simplified Exit Scheme 2005: Submit Affidavit and Indemnity Bond Confirming No Assets or Liabilities for Company Exit.</h1> The Simplified Exit Scheme, 2005, requires applicants to submit an affidavit and indemnity bond when applying for a company's exit. The affidavit, sworn before a legal authority, must confirm that the company has ceased operations and holds no assets or liabilities. The indemnity bond, notarized as per the prescribed draft, ensures that applicants will cover any potential liabilities even after the company's name is removed from the register. Applicants are jointly and severally liable for any such liabilities. Drafts for both documents are provided in the annexures of the relevant circular.
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