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About the Author: (c) Understanding the Norms for India's Exit Scheme for Defunct CompaniesArticle Summary: India's popular Easy Exit Scheme (EES) that allows defunct [url=http://www.lotogame.fr/hollisterfrance.php]www.lotogame.fr/hollisterfrance.php[/url] companies [url=http://www.tileproject.net]barbour outlet[/url] to get their names removed from the Register of Companies has been extended. Article Source: uPublish.info India's popular Easy Exit Scheme (EES) that allows defunct companies to get their names removed from the Register of Companies has been extended. The scheme is a major relief for a number of companies that have registered with the Indian Government (Registrar of Companies, Ministry of Corporate Affairs) but either went out of business or became non-operational and stopped filing statutory returns and documents, with the Registrar of Companies. The EES 2011 is an extension of the hugely popular EES 2010 launched under Section 560 of the Companies Act, 1956 during May-Aug, 2010. Companies not availing or eligible for the EES are required to file the relevant statutory returns and documents (e.g. balance sheets, etc.) for [url=http://www.dewa.or.jp/arabon/tensui/shinkei12/fantasy01/fantasy.cgi/img/img]mulberry sale TITLE Why we a[/url] all the years of their existence even if they were not [url=http://www.fukushi-hiroba.com/magazine/cgi/talk/ftalk.cgi?res=222%3C/a%3E]parajumpers pas cher Are you [/url] doing any business. The penal fees amounts to ten times the original fees for every late / non filing and such companies also face criminal prosecution for being in violation of the Companies Act. Who Is Eligible For EES 2011? Companies which are inoperative since incorporation or commenced business after incorporation but later on became inoperative are eligible for the said Easy Exit Scheme [url=http://www.davidhabchy.com]barbour outlet[/url] 2011. Such companies are termed "Defunct Companies". What Are Defunct Companies? As per definition provided under the Easy Exit Scheme 2011, Defunct Companies are Companies, which have an [url=http://www.sandvikfw.net/shopuk.php]hollister sale[/url] active status at the [url=http://www.ttcarpets.co.uk]mulberry sale[/url] Ministry of Corporate Affairs (MCA) and which are not carrying on any business or not in operation on or after 1st April, 2008; or which did not raise their minimum paid up Capital i.e. Rs. 1,00,000/- (for Private Limited Companies) or Rs. 5,00,000/- (for Public Limited Companies). Who Is Not Eligible For EES 2011? The below cannot avail of the Easy Exit Scheme: * Listed companies * Companies that have been de-listed * Companies registered under section 25 of the Companies Act,1956 (Non-profit companies) * Vanishing companies * [url=http://www.tagverts.com/barbour.php]barbour deutschland[/url] Companies where inspection or investigation is ordered and being * * * *carried out or yet to be taken up or where completed prosecutions arising [url=http://www.villazuki.it]woolrich sito ufficiale[/url] out of such inspection or investigation are pending in the court *Companies against which prosecution for a non-compoundable offence is pending in court *Companies that have accepted public deposits which are either outstanding or the company is in default in repayment of the same *Companies that have [url=http://www.femmesexenue.fr]louboutin[/url] secured a loan *Companies having management dispute, etc. *What The Eligible Companies Need to Do? The eligible companies need to prepare an Affidavit and Indemnity [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] Bond (to be signed by the Directors of the Company) as per the prescribed format. It is also essential to prepare a Statement of Accounts as per the prescribed format, as on date not prior to more [url=http://www.batfriendtrust.it]hogan outlet[/url] than 1 month preceding the date of filing [url=http://www.anepf.fr]doudoune moncler[/url] of application under EES, 2011. An approval needs to be obtained from the authorities governing the industry/ sector of the Company in which it operates, if necessary and it also necessary to file the E- Form EES, 2011 on the MCA Portal (along with the aforementioned documents) and pay the filing fees online. The form needs to be certified by practicing Chartered Accountant/Company Secretary/Cost Accountant". In any expanding business overseas, the fear of the unknown is inherent. 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