Definitions under Easy Exit Scheme outline eligibility for defunct and vanishing companies and scope for NBFCs. Defines operative terms for the Easy Exit Scheme, 2010, identifying a 'Company' as one registered under the Companies Act, 1956 and adopting statutory definitions for Collective Investment Management Company and Non-Banking Financial Company. The Scheme designates a 'Defunct company' as one not carrying on business after the reference date and including companies that have not raised prescribed paid-up capital, and a 'Vanishing company' as a listed entity failing consecutive filings, lacking a maintained registered office and with untraceable directors, thereby establishing eligibility and compliance triggers for the Scheme.
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.
Definitions under Easy Exit Scheme outline eligibility for defunct and vanishing companies and scope for NBFCs.
Defines operative terms for the Easy Exit Scheme, 2010, identifying a "Company" as one registered under the Companies Act, 1956 and adopting statutory definitions for Collective Investment Management Company and Non-Banking Financial Company. The Scheme designates a "Defunct company" as one not carrying on business after the reference date and including companies that have not raised prescribed paid-up capital, and a "Vanishing company" as a listed entity failing consecutive filings, lacking a maintained registered office and with untraceable directors, thereby establishing eligibility and compliance triggers for the Scheme.
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