Easy Exit Scheme

This query is : Resolved

Mohammed (Querist)
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20 December 2010 Dear Member,

There is a company who has not filed a return with ROC since incorporation i.e 1985 and the current status being displayed on the ROC website is Active.

Can the company go with Easy Exit Scheme 2011 and write off the name from ROC?

Please advise

Aditya Maheshwari

Aditya Maheshwari (Expert)
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20 December 2010 yes

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 December 2010 Information given by you is not sufficient to frame a correct observation on the issue. So kly refer the general circular in
http://www.mca.gov.in/Ministry/latestnews/CircularEES_3dec2010.pdf
for a proper understanding about the scheme.

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Jayashree S Iyer

Jayashree S Iyer (Expert)
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21 December 2010 For knowing whether the company is eligible or not, please go through the EES 2011.

Mohammed

Mohammed (Querist)
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21 December 2010 I have referred the circular but its not written anywhere if the company has filed not a single return is eligible for write off or not.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 December 2010 they are eligible

Jayashree S Iyer

Jayashree S Iyer (Expert)
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21 December 2010 Easy exit scheme 2011 is open to defunct companies only. Non-filing for returns alone will be make the company defuct.

As per EES 2011, Scheme is not applicable to certain companies viz.,: -

(a) companies where inspection or investigation is ordered and being carried out or yet to be taken up or where completed prosecutions arising out of such inspection or investigation are pending in the court;
(b) companies where order under section 234 of the Companies Act,1956 has been issued by the Registrar and reply thereto is pending or where prosecution if any, is pending in the court;
(c) companies against which prosecution for a non-compoundable offence is pending in court;
(d) companies accepted public deposits which are either outstanding or the company is in default in repayment of the same;
(e) company having secured loan ;
(f) company having management dispute;
(g) company in respect of which filing of documents have been stayed by court or Company Law Board (CLB) or Central Government or any other competent authority;
(h) company having dues towards income tax or sales tax or central excise or banks and financial institutions or any other Central Government or State Government Departments or authorities or any local authorities.