Not Filed Annual Return Yet take the advantage of CLSS 2014 before 15th November 2014

The Com­pa­nies Act, 2013 lays down a stricter regime for the default­ing com­pa­nies with high­er addi­tion­al fees. The quan­tum of pun­ish­ment has been enhanced under the above men­tioned pro­vi­sions of the Act vis-a-vis the ear­li­er Act i.e. Com­pa­nies Act, 1956. A spe­cif­ic pro­vi­sion for enhanced fine in case of repeat­ed default also been includ­ed in the form of sec­tion 451 of the Act. Addi­tion­al­ly, the pro­vi­sions sec­tion 164(2) of the Act, inter alia, pro­vid­ing for dis­qual­i­fi­ca­tion of direc­tors in case a com­pa­ny has not filed finan­cial state­ments or annu­al returns for any con­tin­u­ous peri­od of three finan­cial years has been extend­ed to all com­pa­nies.

In order to give such an oppor­tu­ni­ty to the default­ing com­pa­nies to enable them to make their default good by fil­ing these belat­ed doc­u­ments has decid­ed to intro­duce a Scheme name­ly “Com­pa­ny Law Set­tle­ment Scheme 2014″ [CLSS-2014] con­don­ing the delay in fil­ing the above men­tioned doc­u­ments with the Registrar

Ben­e­fits of CLSS:

• A reduced addi­tion­al fees of 25% of the actu­al addi­tion­al fee payable on the date of fil­ing of each belat­ed document

• With­draw­al of appeal against pros­e­cu­tion launched for the offences

• Immu­ni­ty from pros­e­cu­tion from delayed return filing

• Escape for direc­tors dis­qual­i­fied under com­pa­nies act 2013

Applic­a­bil­i­ty: -

Any “default­ing com­pa­ny” Is per­mit­ted to file belat­ed doc­u­ments which were due for fil­ing till 30th June 2014 In accor­dance with the pro­vi­sions of this Scheme

Valid­i­ty of CLSS 2014:

From 15^th August 2014 to 15^th Novem­ber 2014, ear­li­er it was till 15^th Octo­ber 2014 but  the same was extend­ed via Gen­er­al Cir­cu­lar No 40/2014 dat­ed 15.10.2014 to 15^th Novem­ber 2014.

CLSS Applic­a­ble For: 

Scheme applic­a­ble only for fol­low­ing e‑forms

1. Form 20B –  Form for fil­ing annu­al return by a com­pa­ny hav­ing share capital.
2. Form 21A — Par­tic­u­lars of Annu­al return for the com­pa­ny not hav­ing share capital.
3. Form 23AC, 23ACA, 23AC-XBRL and 23ACA-XBRL –   Forms for fil­ing Bal­ance Sheet and Prof­it & Loss account.
4. Form 66 – Form for sub­mis­sion of Com­pli­ance Cer­tifi­cate with the Registrar.
5. Form 238 –  Form for Inti­ma­tion for Appoint­ment of Auditors.

CLSS Not Applic­a­ble for: 

This Scheme shall not apply

1. to com­pa­nies against which action for strik­ing off the name under sub- sec­tion (5) of sec­tion 560 of Com­pa­nies Act, 1956 has already been ini­ti­at­ed  by the Reg­is­trar of Com­pa­nies or
2. where any appli­ca­tion has already been filed by the com­pa­nies for action of  strik­ing off name from the Reg­is­ter of Com­pa­nies or
3. where appli­ca­tions have been filed for obtain­ing Dor­mant Sta­tus under  sec­tion 455 of the Com­pa­nies Act, 2013;
4. to van­ish­ing companies

Forms to Be used:

Appli­ca­tion to made in E‑form CLSS 2014 for tak­ing ben­e­fit of the scheme