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September 2011

Launch of Company Law Settlement Scheme 2011.

By Sejal Vasa, Company Secretary
Reading Time 1 mins
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The Ministry of Corporate Affairs has vide General Circular No. 59/2011, dated 5th August 2011, launched the Company Law Settlement Scheme 2011 for condoning the delay in filing documents pertaining to the Annual Return, Compliance Certificate and Balance Sheet and Profit and Loss Account only, which were due for filing till 30th June 2011, with the Registrar granting immunity from prosecution and charging additional fee of 25% of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made thereunder. The Scheme is in force from 12th August 2011 to 31st October 2011. It is further informed that on conclusion of the Scheme, the Registrar shall take action against those companies who have not availed the Scheme and are in default in filing the documents in timely manner. Vide General Circular No. 60/2011 dated 10-8-2011, the MCA has clarified that the Scheme will also be applicable to Form 52 (filing of annual accounts by a foreign company).

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