Fast Track Scheme: simplified striking-off process with affidavits, notarisation option and indemnity bond substitution for clearances. The circular permits directors of companies that have been inactive since incorporation or for a long period to use sworn affidavits (sworn before a Magistrate or a Notary Public with seal) and a prescribed indemnity bond in place of tax and excise clearance certificates when applying under the Fast Track Scheme for striking off the company's name under section 560; model affidavit and indemnity bond forms set out directors' declarations, asset/liability disclosures, undertakings to indemnify third parties and signature/witness requirements, and the Scheme's period is extended by one month.
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.
Fast Track Scheme: simplified striking-off process with affidavits, notarisation option and indemnity bond substitution for clearances.
The circular permits directors of companies that have been inactive since incorporation or for a long period to use sworn affidavits (sworn before a Magistrate or a Notary Public with seal) and a prescribed indemnity bond in place of tax and excise clearance certificates when applying under the Fast Track Scheme for striking off the company's name under section 560; model affidavit and indemnity bond forms set out directors' declarations, asset/liability disclosures, undertakings to indemnify third parties and signature/witness requirements, and the Scheme's period is extended by one month.
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