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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification on Simplified Exit Scheme: Audited Accounts Required, Indemnity Bonds from Directors, Exclusions for Section 25 Companies.</h1> The circular provides clarifications on the Simplified Exit Scheme (SES) for companies. It specifies that companies seeking to be struck off must submit audited accounts showing no assets or liabilities. Indemnity bonds are required from all applicant directors, and at least two directors must submit them. Section 25 companies cannot apply under the SES. Prosecutions for minor offenses will be withdrawn after a final notice, but not for serious offenses. The circular also addresses the publication of company lists, publicity for the scheme, and the attestation of affidavits. Certain companies under investigation or involved in scams are excluded from the scheme.
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