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India Company Law: New scheme pardons submission delays

09-19-2011 09:20 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Nair & Co

(Sunnyvale, CA) – The Indian Ministry of Corporate Affairs has introduced a scheme which allows defaulting companies a chance to rectify non-compliances related to timely submission of documents (specifically balance sheets and annual returns) with the Registrar of Companies (ROC).

The scheme titled Company Law Settlement Scheme 2011, condones delay in filing of documents with the ROC and grants immunity from prosecution.

The scheme entails charging an additional fee of 25% of actual additional fee payable for filing such belated documents under the Companies Act 1956.

The Company Law Settlement Scheme 2011 is applicable only for filing the following forms/returns:

•Annual Return

•Particulars of an Annual Return for a company not having share capital

•Annual Report

•Compliance Certificate

The scheme is effective from August, 12, 2011 until October 31, 2011.

Read more on India Data Privacy Laws, India Direct Tax Code, Easy Exit Scheme

Nair & Co. provides an integrated solution in the HR, finance, tax, compliance and legal arenas making a company’s overseas operations less risky, stress free and more strategic. It currently has 750+ client operations in over 50 countries with offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP).
Learn more at www.nair-co.com

Nair & Co., 1250 Oakmead Parkway, Suite 210
Sunnyvale, CA 94085 United States
Nandita Verma
Nair & Co.
(408) 515-9048
nandita.verma@nair-co.com

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