Reasoned immunity under the Company Law Settlement Scheme was clarified through an amended certificate proforma.

The Company Law Settlement Scheme, 2000 was clarified to require reasons to be recorded when delay is condoned and immunity from penalty is granted, and the amended proforma was stated to capture those reasons in the certificate itself. The statutory provision was also read as contemplating reasons for such relief. On that clarification, no further relief was pressed and the writ petition was disposed of.

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Issues: Whether the Company Law Settlement Scheme, 2000 permitted arbitrary orders without recording reasons, and whether reasons were required in the certificate granting immunity from penalty.

Analysis: The objection was addressed by the assurance that the prescribed proforma had been amended so that reasons for condoning delay and granting immunity would now be recorded in the certificate itself. The statutory provision was also noted to contemplate reasons.

Outcome: In view of the clarification, no further relief was pressed and the writ petition was disposed of.

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