https://www.taxtmi.com/circulars?id=9942 Applicants under the Simplified Exit Scheme must submit nil audited accounts showing no assets or liabilities; all applicant directors must furnish indemnity bonds with at least two signatories, and paragraph 1(c) of the indemnity may be amended to reflect that the company has not carried on business since incorporation or for a specified period and does not intend to carry on its main objects. Section 25 companies and firms under inspection, investigation or implicated in market scams are excluded; prosecutions for minor offences may be withdrawn only after the final Gazette notice and ROC reports 45 days after scheme expiry. en-us Tue, 07 Oct 2003 00:00:00 +0530 Thu, 09 Jun 2011 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9942 Applicants under the Simplified Exit Scheme must submit nil audited accounts showing no assets or liabilities; all applicant directors must furnish indemnity bonds with at least two signatories, and paragraph 1(c) of the indemnity may be amended to reflect that the company has not carried on business since incorporation or for a specified period and does not intend to carry on its main objects. Section 25 companies and firms under inspection, investigation or implicated in market scams are excluded; prosecutions for minor offences may be withdrawn only after the final Gazette notice and ROC reports 45 days after scheme expiry. Circulars Companies Law Tue, 07 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9942