- EFFECTIVE UTGST (RATES) NOTIFICATIONS
- IGST (Rates) Notification
- UTGST Circular
- UTGST (Rules) Notification
- SGST Circular
- Cess Circulars
- Compensation Cess (Rules) Notification
- Compensation Cess (Rates) Notification
- CGST (Rates) Notification (Effective)
- CGST (Rules) Notification (Effective)
- CGST (Rates) Notification
- IGST Circulars
- IGST (Rules) Notification
- CGST Circular
- CGST (Rules) Notification
GENERAL CIRCULAR NO 36/2011, Dated : June 7, 2011 Subject: Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956 There are a number of companies, which are registered under the Companies Act, 1956, but due to various reasons they are inoperative since incorporation or commenced business but became inoperative or defunct later on. Such companies may be desirous of getting their names strike off from the Register of Companies maintained by Registrar of Companies. 2. As per section 560 of the Companies Act, 1956, Registrar of Companies may strike off the name of companies on satisfying the conditions therein. As per present practice, a company desirous of getting its name struck off, has to apply to Registrar of companies in e-form 61. All pending statutory returns are required to be filed along with e-form 61. 3. In order to give an opportunity for fast track exit by a defunct company, for getting its name struck off from the register of companies, the Ministry has decided to modify the existing route through e-form – 61 and has prescribed the new Guidelines. The Guidelines for “Fast Track Exit mode” for defunct companies under section 560 of the Companies Act, 1956 are enclosed herewith. 4. These Guidelines will be implemented w.e.f. 3rd July, 2011. F. No. 2/3/2011-CL V (Monika Gupta) Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956 1. For Fast Track Exit mode (FTE), it is stated as under:-
2. Procedure to be adopted by Registrar of Companies in this matter:-
ANNEXURE-A AFFIDAVIT 1. I/, Director of ___________________________________ ,
(hereinafter called “ the Company” ), incorporated on ___/___/_____ under
the Companies Act, 1956 having its Registered Office at 2. I/ _______________, S/o/ D/o Shri/ Smt___________, holder of DIN /Income Tax PAN /Passport number: ________________(copy of Income Tax PAN /Passport duly attested by a Gazetted Officer or a whole time practicing professional (Chartered Accountant/ Company Secretary/Cost Accountant) or a Company Secretary in full time employment of the company is enclosed) am Director of the company stated above since_______________(mention date of appointment). 3. My present residential address is _____________________ (Copy of documentary evidence duly attested by a Gazetted Officer or a whole time practicing professional (Chartered Accountant/ Company Secretary/Cost Accountant) or a Company Secretary in full time employment of the company is enclosed. Alternatively, an affidavit sworn before Magistrate may be enclosed) 4. My permanent address is ____________________________ (Copy of documentary evidence duly attested by a Gazetted Officer or a whole time practicing professional (Chartered Accountant/ Company Secretary/Cost Accountant) or a Company Secretary in full time employment of the company is enclosed. Alternatively, an affidavit sworn before Magistrate may be enclosed) 5. The company does not maintain any bank account as on date. 6. I affirm that the Company ___________________ (mention name of the company) do not have any assets and liabilities as on date. 7. The Company has been inoperative from the date of its incorporation / The company commenced business/operations/commercial activity after incorporation but has been inoperative for the past _________________ year(s) due to following reasons*._______________ (Give the reasons here) 8. As on date, the Company does not have any dues towards Income Tax / Sales Tax / Central Excise/ Banks and Financial Institutions; any other Central or State Government Departments/Authorities or any Local Authorities. 9. Strike out whichever is not applicable:-
10. In case of any loss(es) to any person or any valid claim and liability arising from any person after the striking off the name of the Company________(mention name) from the Register of Companies, I, the director of the company, undertake to indemnify any person for such losses, valid claim and liability and the indemnity bond to this effect is being submitted separately with the application Form. I solemnly state that the contents of this affidavit are true to the best of my knowledge and belief and that it conceals nothing and that no part of it is false. Signature: ____________________ (Deponent) Verification:- I verify that the contents of this affidavit are true to the best of my Signature :________________(Deponent) Place :_________________ Date: __________________ ANNEXURE-B INDEMNITY BOND (to be given individually or collectively by every director ) To The Registrar of Companies, 1. I/ We, the director (s) of ___________________________________ (mention name of the company), incorporated on ___/___/_____ under the Companies Act, 1956, having its Registered Office at _______________ _________________________do hereby declare that: 2. I/ We ________________, S/o D/o Shri/Smt_______________ am/are Director (s) of this company. 3. That I/We have made an affidavit dated the _________, duly sworn before First Class Judicial Magistrate or Executive Magistrate or Oath Commissioner or Notary, affirming that the Company ___________________Private/ Limited have nil assets and liabilities as on date. 4. Further, the Company has been inoperative from the date of its incorporation. / The company commenced business/operations/commercial activity after incorporation but has been inoperative for the past _________________ year(s)*. And the company is not intending to do any business or commercial activity. Thus the Company is defunct and I request the Registrar of Companies, _______________ to strike off the name of the Company from the Register of Companies under Section 560 of the Companies Act, 1956. * Strike out whichever is not applicable. 5. I /We do hereby undertake and indemnify in writing: (a) to pay and settle all lawful claims arising in future after the striking off the name of the Company. (b) to indemnify any person for any losses that may arise pursuant to striking off the name of the Company. (c) to settle all lawful claims and liabilities which have not come to our notice up to this stage, even after the name of the Company has been struck off in terms of Section 560 of the Companies Act, 1956. (Name, Father’s name, Address & Signature) Place: Date: WITNESSES: 1. Signature: Name: Father’s name: Address: Occupation: 2. Signature: Name: Father’s name: Address: Occupation: Annexure -C Statement of Account Name of the Company: CIN No. Statement of Account as on date: Particulars : (Brief break up in respect of each item needs to be given). I. Sources of Funds (1) Capital (2) Reserves & Surplus (including balance in Profit and Loss Account) (3) Loan Funds Secured loans from Financial Institutions Secured loans from Banks Secured loans from Govt. Others Secured loans Debentures Unsecured Loans Deposits & interest thereon Total Loan Funds Total of (1) to (3) II. Application of Funds (1) Fixed Assets (2) Investments (3) (i) Current Assets, loans and Advances Less : (ii) Current Liabilities & provisions Creditors Unpaid Dividend Payables Others Total Current Liabilities & provisions Net Current assets ( i –ii) (4) Miscellaneous expenditure to the extent not written off or adjusted (5) Profit & Loss Account (Debit balance) Total of 1 to 5 Name and
Signature of Name and
Signature Name and Signature of Date : Place: * Applicable only if there is MD/Secretary Duly certified by Statutory Auditor or Chartered Accountant in whole time Membership No/Certificate of Practice Number with seal |