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September 2012

Company Law Settlement Scheme, (Jammu & Kashmir) 2012

By Sejal Vasa, Company Secretary
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The Ministry of Corporate Affairs has launched the Company Law Settlement Scheme for the state of Jammu & Kashmir, as the non compliance of filing Balance Sheets and Annual returns is more critical there. The scheme condones the delay in filing of documents with the Registrar, grants immunity from prosecution and charges additional fee of 25% of the actual additional fee payable for filing belated documents under the Companies Act and Rules made there under. The scheme shall remain in force from 15.08.2012 to 14.12.2012. It applies to only Companies registered in the state of Jammu and Kashmir and foreign companies falling under section 591 of the act having their liaison office in the state of Jammu and Kashmir.
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