Simplified Exit Scheme - Clarifications on some issues

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.... Registrar of Companies Sub: Simplified Exit Scheme - Clarifications on some issues ********* The undersigned is directed to refer to General Circular No: 13/2003 dated 25.3.2003, General Circular No: 15/2003 dated 9.4.2003, General Circular No: 16/2003 dated 17.4.2003 and General Circular No: 17/2003 dated 22.4.2003 regarding Simplified Exit Scheme. Some more clarifications are given in ....

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.... it means that the company has no assets. Any company can be restored to the Register should the need arise. Issue No: 3: Whether indemnity bond should be submitted individually by all applicant directors Clarification: Yes, indemnity bonds should be given by all applicant-directors, and at least two applicant directors should furnish the indemnity bond. Issue No: 4: whether changes in pa....

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....OC will submit his report after 45 days from the expiry of the scheme. Issue No: 6: Whether section 25 company can apply under the scheme. Clarification: No.  Under the scheme Section 25 companies cannot apply. Issue No: 7: When the prosecution will be withdrawn. (Para 7 of the scheme) Clarification: Prosecution will be withdrawn after final notice in the Official Gazette for stri....

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....e same can also be sent to public financial institutions. Other financial institutions may have to rely on the advertisements being issued in the newspapers. Issue No: 10: Should the word "Any Person(s)" referred to in last para of Annexure D of Scheme be substituted with "Any interested person(s)" or "Any authorised person". Clarification:  Yes, the words "any person" referred to in la....