In order to give an opportunity to defunct companies desirous of getting their names struck off from the Register of Companies under the Companies Act, 1956 through a simplified procedure, the Central Government has decided to introduce a scheme namely, "The Simplified Exit Scheme, 2005" (SES, 2005). A copy of General Circular (No: 2/2005) dated 28.1.2005 through which the scheme is issued, is enclosed.
Under the new Scheme, the directors of a defunct company having no assets and no liabilities can apply to the concerned Registrar of Companies (ROC) by furnishing (i) an Affidavit (ii) an Indemnity Bond and (iii) the latest audited financial statement or, in certain cases as specified, a Statement of Account alongwith a lump sum fee of Rs.3,000/-.
The Scheme will be effective from 1st February, 2005 and will continue till 31st July, 2005.
Copies of this Press Note and General Circular 2/2005 dated 28.1.2005 have also been placed on the Web page of the Ministry of Company Affairs at the internet address http://www.dca.nic.in
Deepak Jain
