Company Law Settlement Scheme (J&K)
IT seems that large number of companies are not filing their due statutory documents (i.e. Balance Sheets and Annual Returns) timely with the Registrar of Companies. Due to this, the records available in the electronic registry are not updated and thereby are not available to the stakeholders for inspection. Further, due to non-filing the documents on time, companies are burdened with additional fee, facing prosecutions and being debarred from filing other documents electronically. It is observed that non-compliance of the filing of Balance Sheets and Annual Returns is even more critical in the state of Jammu & Kashmir.
In order to give an opportunity to the defaulting companies in the state of Jammu & Kashmir to enable them to make their default good by filing such belated documents and to become a regular compliant in future, the Commerce Ministry, has decided to introduce a Special Scheme namely, "Company Law Settlement Scheme (Jammu & Kashmir), 2012" condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules.
The scheme shall come into force on the 15.08.2012 and shall remain in force up to 14.12.2012 .
Any "defaulting company" is permitted to file belated documents, which were due for filing till 30.06.2012, in accordance with the provisions of this Scheme:
MoC General Circular No. ., Dated: August 06, 2012