Easy Exit Scheme definitions: criteria for defunct and vanishing companies and statutory entity classifications. Defines terms for the Easy Exit Scheme, 2011: Company under the Companies Act, 1956; Defunct company as firms not carrying on business on or after April first, two thousand eight or failing to raise paid up capital as required; Vanishing company as listed entities failing to file returns for two consecutive years, not maintaining the notified registered office, and having untraceable directors; and definitions of Collective Investment Management Company and Non Banking Financial Company by statutory reference.
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.
Easy Exit Scheme definitions: criteria for defunct and vanishing companies and statutory entity classifications.
Defines terms for the Easy Exit Scheme, 2011: Company under the Companies Act, 1956; Defunct company as firms not carrying on business on or after April first, two thousand eight or failing to raise paid up capital as required; Vanishing company as listed entities failing to file returns for two consecutive years, not maintaining the notified registered office, and having untraceable directors; and definitions of Collective Investment Management Company and Non Banking Financial Company by statutory reference.
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