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of <h1>Company Law Settlement Scheme 2014: Reduced Penalties for Filing Overdue Documents, Immunity from Prosecution for Defaulting Companies.</h1> The Company Law Settlement Scheme, 2014, introduced by the Ministry of Corporate Affairs, provides a one-time opportunity for defaulting companies to file overdue annual documents with reduced penalties. The scheme, effective from August 15 to October 15, 2014, allows companies to pay 25% of the usual additional fees and grants immunity from prosecution. It also offers inactive companies the chance to be declared dormant with minimal compliance requirements. The scheme excludes companies facing certain legal actions or those applying for dormant status. Post-scheme, non-compliant companies face penalties under the Companies Act.
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