Simplified Exit Scheme: filing an application suspends penal action and enables eligible companies to exit the register. The Simplified Exit Scheme allows eligible companies to exit the Register after meeting scheme requirements; filing an application suspends penal action from the filing date while the scheme operates. After the scheme ends, the Ministry will take penal measures under the Companies Act against defunct or non-compliant companies that did not avail the exit or failed to file required documents.
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.
Simplified Exit Scheme: filing an application suspends penal action and enables eligible companies to exit the register.
The Simplified Exit Scheme allows eligible companies to exit the Register after meeting scheme requirements; filing an application suspends penal action from the filing date while the scheme operates. After the scheme ends, the Ministry will take penal measures under the Companies Act against defunct or non-compliant companies that did not avail the exit or failed to file required documents.
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