TaxTMI 
TaxTMI 
Striking off names of defunct companies - Simplified Exit Scheme, 2005
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....ugh the operation of the Scheme called "Simplified Exit Scheme, 2005" (SES 2005) [The "Scheme"]. In supercession of all earlier circulars and schemes, the Ministry issues the following directions for striking off names of defunct companies from the Register of Companies under section 560 of the Companies Act, 1956. Operation of the scheme 3. The SES 2005 will come into operation on 1-2-2005 and will continue till 31-7-2005. Who can apply? 4. (i) All defunct companies which are registered under the Companies Act, 1956 can apply under this Circular, except section 25 Companies, subject to fulfilment of conditions laid down hereinafter. (ii) More particularly, the following companies are eligible to apply under this Scheme:-- (a) Companies that did not carry out any business at any time; (b) Companies that carried out some business activity but discontinued the same thereafter; Provided that in the case of a Non Banking Financial Company (NBFC) as defined under section 45-I(f) of RBI Act, 1934:-- (a) if such NBFC is not registered with the RBI, it will be allowed to avail of this scheme only if it has not carried out any operation or commercial activity since its incorpor....
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....xecutive Magistrate/Oath Commissioner/Notary, to the effect that the company has not carried on any business or the company did some business for a period upto a date (which should be specified) and then discontinued its operations, as the case may be, and has no assets or liabilities. The draft of the Affidavit is as per draft prescribed and enclosed at Annex 'B' to this Circular. (ii) The application should further be accompanied by an Indemnity Bond, duly notarized as per draft prescribed and enclosed in Annex 'C' to this Circular, to the effect that should there be any liabilities on the company, such liabilities will be met in full by the applicants, even after the name of the company is struck off the register of the companies. Such applicants will be liable jointly as well as severally. Accounts 7. (a) In case of companies which have not carried out any operations, business or commercial activity since their incorporation and have no financial information to furnish, a declaration by Applicants in the affidavit itself that the company has no assets and liabilities shall be sufficient and there shall be no need to attach separate audited financial statements. If however, s....
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....his opportunity and have not complied with the provisions of the Companies Act, 1956 or are not filing documents with ROCs in a timely manner. 10. The applicant company under this scheme would be deemed to be struck off from Register of Companies from the date of issue of Order/Notification by the ROC. 11. An application shall be accompanied with a fee of Rs. 3000. ANNEXURE A APPLICATION FORM FOR STRIKING OFF NAME OF COMPANY UNDER SECTION 560 OF THE COMPANIES ACT, 1956 Affix Affix PP size Photo PP size Photo No. of Company Name of the Company: Address of the Company: To The Registrar of Companies, ................................................ (Name of the State) Sir, The Company after carefully considering all aspects has duly resolved in the Board meeting held on___________ to make an application for striking the name of our company off the Register under section 560 of the Companies Act, 1956. We, the directors of the company make an application for striking the name of our company off the Register under section 560 of the Companies Act, 1956. (2) I/We furnish the following details and documents for considering my/our application. (i) Audited Financial Sta....
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....e Date : ANNEXURE B AFFIDAVIT (to be given individually by applicant) I. Director of ___________________________________ Private/Limited, (hereinafter called "the Company"), incorporated on ___/___/_____ under the Companies Act, 1956 having its Registered Office at __________________and having PAN No : ______________ do solemnly affirm and state as under: 1. I _______________, S/o D/o Shri___________, holder of Passport No: ______/PAN _______ (copy of Passport/PAN duly attested by Gazetted Officer is enclosed) am Director of the company stated above since_______________ 2. My present residential address is ______________________ (copy of documentary evidence duly attested by Gazetted Officer is enclosed. Alternatively, an affidavit sworn before Magistrate may be enclosed) 3. My permanent address is ________________________ (copy of documentary evidence duly attested by Gazetted Officer is enclosed. Alternatively, an affidavit sworn before Magistrate may be enclosed) 4. The Company was incorporated on __________________ with the object to carry on the business of _______________________________ _____________________. 5. The company maintains/does not maintain an....
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....fter called "the Company"), incorporated on ___/___/_____ under the Companies Act, 1956, having its Registered Office at _______________________ and having PAN Number____________________ _______do hereby declare that: (a) (i) I ____________, S/o D/o Shri________, am holder of passport/PAN ______ etc. (copy of Passport/PAN duly attested by Gazetted Officer is enclosed) (ii) I am Director of this company since_______________ (iii) My present residential address is __________________ (copy of documentary evidence duly attested by Gazetted Officer is enclosed. Alternatively an affidavit sworn before Magistrate may be enclosed.) (iv) My permanent address is ________________________ (copy of documentary evidence duly attested by Gazetted Officer is enclosed. Alternatively an affidavit sworn before Magistrate may be enclosed.) (b) That I have made an affidavit dated the ______, duly sworn before Magistrate/Executive Magistrate/Oath Commissioner/Notary affirming that the Company ___________________Private/ Limited, has no assets and no liabilities. (c) Further, the Company has been inoperative from the date of its incorporation. / The company commenced business/operations/....