Easy Exit Scheme, 2010
Dear Students,
Most awaited Easy Exit Scheme 2010 (EES) was notified by the Ministry of Corporate Affairs (MCA) on May 26, 2010.
As name denotes, EES has given an option to the company to strike off its name from Register of companies with amicable solution at the same time it will save time, money of the promoters.
The excerpts of the scheme are as follows:
1. Preamble – It contains the date of notification of the scheme
2. Definitions – EES has defined the meaning of ‘Defunct Company’, ‘NBFC’, ‘Vanishing Company’ etc.
3. Applicability – The very purpose of the scheme is that to give exit option of dormant/ non functioning company/ies.
4. Non – Applicability – The EES is not applicable to Listed Company, Section 25 Company etc. Entire list is given in the scheme
5. Procedure – EES is very simple one.
a. All director has to file give Affidavit and Indemnity Bond
b. Affidavit and Indemnity Bond shall be file as annexure to EES 2010
c. Director shall give Certain declaration
d. EES form has to file electronically with ROC
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