Financial Daily from THE HINDU group of publications
Wednesday, Nov 30, 2005
Financial Daily from THE HINDU group of publications Wednesday, Nov 30, 2005 |
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Corporate
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Company Law Over 3 lakh cos default in filing returns: Gupta Our Bureau
New Delhi , Nov. 29 AS per available records, 3,03,107 companies out of 6,41,512 registered under the Companies Act were found to be defaulting in filing statutory returns with the Registrar of Companies (RoCs) during 2003-2004, the Minister of State (Independent Charge), Ministry of Company Affairs, Mr Prem Chand Gupta, said in the Rajya Sabha today. Such companies are liable for payment of additional fees for delayed filing in addition to other legal actions under the Companies Act, the Minister said. Penal action is being taken under law against such defaulting companies, he said. In respect of defunct companies, two Simplified Exit Schemes (SES) in 2003 and 2005 were introduced. Almost 26,714 companies were struck off under SES in 2003, while 26,483 companies have applied under SES 2005. Under Company Law Settlement Scheme, 2000 (CLSS 2000) 1,27,083 companies have availed themselves of the scheme and filed the required statutory documents, he added.
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