Wednesday, 13 August 2014

Company Law Settlement Scheme 2014

CLSS 2014 and Repository for Independent Directors
 
Company Law Settlement Scheme 2014 (CLSS 2014)
MCA has brought the Company Law Settlement Scheme (CLSS) 2014 under which one time opportunity is provided to Defaulting Companies and its Directors to file their annual Reports, Financial Statements and related Documents due for filing on or before 30th June 2014 by 15th October 2014 with the following benefits
  • Payment of only 25% of payable additional fee;
  • Enjoy Immunity from prosecution and
  • Directors will also not be disqualified under section 164(2) of the Companies Act, 2013.

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