Company Law Settlement Scheme 2010 (CLSS-X )
Dear friends
CLSS-X is a welcome step by the government to give an opportunity to the defaulting companies to enable them to make their default good by filing belated documents and to become a regular compliant in future,
Silent features of the CLSS-X
- Defaulted Company (DC) shall pay statutory filing fees as prescribed under the Companies Act and rules made there under. In addition to above, DC has to pay Additional fee @ 25 percent of actual additional fee.
e.g. A Private Company whose authorized capital is Rs. 5.00 lacs has not filed its Annual Accounts and Annual Return since 2008. In this juncture, normal payment and relief after availing CLSS-X
SN | Particulars | Annual accounts | Annual return |
1. 1 | Filling Date | 1/6/10 | 1/6/10 |
2. | Annual General Meeting Date | 30-9-08 | 30-9-08 |
3. | Due Date | 29-10-08 | 28-11-08 |
4. | Authorise Share Capital | 5,00,000 | 5,00,000 |
5. | Filling Fees | 300 | 300 |
6. | Additional Fees | 2,400 | 2,400 |
7. | Under Normal payment - Total (5+6) | 2,700 | 2,700 |
8. | By Using this Scheme Company has to Pay following amount as a fee | ||
9. | Normal Fee | 300 | 300 |
10. | Additional Fee (25% of Additional fee) | 600 | 600 |
11. | Total payment under CLSS-X (9+ 10) | 900 | 900 |
12. | Total Saving ( 7-11) | 1800 | 1800 |
- In addition to that CLSS-X has also revealed the application of scheme, Immunity and other procedural requirements.
- DC has to file requisite form electrically.
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