Nearly 1,800 defunct companies in the region are likely to benefit from the Easy Exit Scheme (EES)-2011, launched by the Ministry of Corporate Affairs. According to the scheme, any defunct company desirous of getting its name delisted from the Register under Section 560 of the Companies Act, 1956 shall make an application in the Form IS, 2011. The Form EES, 2011, should be filed electronically on the Ministry of Corporate Affairs’ portal accompanied by a filing fee of Rs 3,000.
Under EES, the companies seeking to wind-up business can approach the Registrar of Companies within the stipulated period and get their names struck-off by adopting simplified procedures. Further, only those companies can avail the scheme who have stopped their operations before April 2008.
Speaking to Business Standard, Registrar of Companies Raj Singh said, “In order to give an opportunity to the defunct companies, for getting their names struck-off from the Register of Companies, the Ministry had launched a scheme namely, ‘Easy Exit Scheme, 2010’ under Section 560 of the Companies Act, 1956 during May-August, 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 Section 560 of the Companies Act, 1956. The scheme shall come into force from January 1, 2011 up to January 31, 2011.”
The EES scheme was availed earlier by 758 companies belonging to Punjab, Haryana, Himachal Pradesh and Chandigarh. He added, “There are about 1,800 defunct companies in Chandigarh, Punjab, Haryana and Himachal Pradesh, which can avail of the scheme. The defunct companies will have to pay Rs 3,000 along with the application fee for striking their names off from the Register. Any defunct company which has active status on the Ministry of Corporate Affairs’ portal may apply under the EES, 2011 in accordance with the provisions of this scheme.” Certain companies had been registered under the Companies Act, 1956, but due to various reasons some of them became non-operative or non-corporation and are not filing their due documents timely .
