The Easy Exit Scheme (EES), introduced by the Ministry of Corporate Affairs that allows defunct companies to get their names removed from the Registrar of Companies (RoC), has found many takers in the region.
According to data, RoC Punjab, Himachal Pradesh and Chandigarh have received 325 cases from the region, the deadline for which expired on April 30.
The scheme proved as a major relief for companies that have registered with the RoC, Ministry of Corporate Affairs but either went out of business or became non-operational and stopped filing statutory returns and documents, with the RoC. Under the EES, companies seeking to wind up business can approach the RoC within the stipulated period and get their names deleted by adopting simplified procedures. The scheme was into force from January 1 to April 30. Further, under the scheme only those corporates can avail the scheme who have stopped operations before April 2008.
Speaking to Business Standard, Registrar of Companies, Raj Singh said, “We got very good response from the corporates as we had received 325 applications who were willing to avail the scheme. All these have been disposed off.”
He added, “In order to give an opportunity to the defunct companies, for getting their names strike off from the Register of Companies, the ministry had launched a scheme, Easy Exit Scheme, 2010 under Section 560 of the Companies Act, 1956 during May-Aug, 2010.”
“A large number of companies availed this scheme. However, on huge demands from the corporate sector, the ministry has decided to re-launch the scheme as, “Easy Exit Scheme, 2011” under the same Act. The scheme came into force on January 1 and was in force up to January 31. However, it was later on extended on April 30.”
According to the scheme, any defunct company wanting to get its name removed would have to submit an application. This should be filed electronically on the Ministry of Corporate Affairs portal, accompanied by a filing fee of Rs 3,000.
Only those corporates who have stopped operations from April, 2008, can avail the scheme . It has been observed that certain companies have been registered under the Companies Act, 1956, but due to various reasons some of them are inoperative since incorporation or commenced business but became inoperative later on and are not filing their due documents timely with the ROC.
