PUBLISHED IN THE GAZETTE OF
INDIA EXTRAORDINARY PART II - SECTION 3 - SUB-SECTION (ii) DATED 31ST MAY, 2000
GOVERNMENT
OF INDIA
DEPARTMENT
OF COMPANY AFFAIRS
New Delhi, the 31ST
May,
2000
NOTIFICATION
S.O.
529 (E) – Whereas the Central Government has decided to make a Scheme namely,
the Company Law Settlement Scheme, 2000 for granting immunity from prosecution
and compounding the period of delay involving in filing certain documents under
the Companies Act, 1956 ( 1 of 1956);
Now, therefore, in exercise of the powers conferred by clause (b) of
section 637B read with section 637 of the said Act, the Central Government
hereby notifies the following Scheme, namely:-
1.
Short
title and commencement.
(1) This
Scheme may be called the Company Law Settlement Scheme,
2000.
(2) It
shall come into force on the 1st day of June,
2000.
2.
Definitions
In
this Scheme, unless the context otherwise requires, –
(a)
“Act”
means the Companies Act, 1956 ;
(b)
“company”
means all companies registered under the Act and includes Government companies
and companies incorporated outside India to the extent to which the Act is
applicable;
(c)
“declarant”
means the company making the declaration under this Scheme and includes an
officer of such company as defined
in clause 30 of section 2 of the Act in relation to the offence mentioned in the
declaration filed under this Scheme;
(d)
“designated
authority” means the Registrar of Companies having jurisdiction over the
registered office of the company on the date of
notification;
(e)
“offence”
means the non-compliance with the provisions of the Act in relation to the
filing of any documents specified in the Act in respect of non-compliance of
which a fine or imprisonment or both has been prescribed but shall not include any non-compliance
referred to in clause 8 of this scheme.
(f) All
other words and expressions used and not defined under this Scheme, but defined
in the Act, shall have the meanings
respectively assigned to them in the Act;
3.
Settlement of
offences.
Subject to the provisions of this Scheme, any company may make a
declaration along with proof of payment of prescribed fee under acknowledgement
on or after the 1st June,2000 but on or before 5.00 PM of
31st August,2000 to the designated authority in respect of any
offence committed under the Act and seek settlement of the offence so
committed.
4.
Declaration
to be filed by the applicant with the Registrar
The declaration under the Scheme shall be made to the designated
authority, having the jurisdiction,
in Form A.
5.
Time
and manner of payment of fees for seeking immunity under the
Scheme.
The
declarant shall pay lump sum amount based on the period of delay and the nominal
filing fees as per Schedule X to the Act, apart from the lump sum amount as
stated in the table given below:-
|
Sl.
No: |
Number
of documents |
Amount
payable for delay less than 3 years |
Amount
payable for delay for period more than 3 years |
|
a) |
Upto
2 |
Rs.2,500 |
Rs.3,000 |
|
b) |
Upto
5 |
Rs.5,000 |
Rs.6,000 |
|
c)
|
Upto
10 |
Rs.7,500 |
Rs.9,000 |
|
d) |
More
than 10 |
Rs.10,000 |
Rs.15,000 |
The
amount payable shall be deposited along with a challan Form in any of the
designated Branches of Punjab National Bank or by way of Pay Order/Demand Draft
payable to the Registrar of Companies. Any sum paid for seeking immunity under
the Scheme shall not be refundable under any
circumstances.
6.
Withdrawal
of appeal against prosecution launched for the
offences
If the company has filed any appeal against any notice issued for
violation of the provisions under the Act in respect of which declaration is
made under this Scheme, the declarant shall withdraw the appeal and furnish the
proof of such withdrawal along with the declaration.
7.
Order by designated
authority granting immunity from the penalty and
prosecution.
The designated authority shall consider the declaration and upon being
satisfied shall pass an order in writing inter-alia stating the reasons for
granting the immunity.
8.
Scheme not to apply to certain offences.
(1) This Scheme shall not apply to the filing of Form Number 5 relating
to increase in authorised capital of the company for which specific interest has
to be paid for filing the intimation for the delay and such other provisions of
the Act where specific approval of the Company Law Board or Central Government
is to be obtained:
Provided
that the Scheme shall apply to such intimations which are to be submitted to
Registrar of Companies along with a prescribed fees but for which no specific
form has been specified.
(2) This Scheme shall also not apply for non-compliance of the provisions
of the Act where the penalty of imprisonment only has been
prescribed.
9. After passing
the appropriate order, Registrar of Companies shall inform the concerned Court
or Regional Director or Company Law Board before whom the matter for prosecution
or compounding application is pending in appropriate
cases.
(A.
Ramaswamy)
Joint
Secretary
File No.
1/5/2000-CL-V
FORM
– ‘A’
DECLARATION UNDER
COMPANY
LAW SETTLEMENT SCHEME 2000
Form
of Declaration
To
The
Registrar of Companies,
_______________________
_______________________
Sir/Madam,
I/We
herewith make a declaration under the Company Law Settlement Scheme, 2000 and give below the following
particulars, namely:-
1.
Name of the declarant and Address:
(in
Block letters)
2.
Name
of the Company:
3.
Registration
No. of company:
4.
Date
of incorporation of the company:
5.
Address
of the Company:
6.
Status
of the company: whether public/private
If
public
Listed/Non-listed
7.
Business/objects
of the company:
(Tick
in appropriate column)
-Manufacturing
-Trading
-Finance
-Service
-Others (please specify)
8. Statement of Declaration of
non-compliance
|
Sl.No |
Nature
of return to be filed |
Section
under which to be filed |
Status
of offence (whether still Continuing) |
|
|
|
|
|
9.
|
Sl.No |
Nature
of document |
Due
date of filing |
Period
of delay |
Amount
payable under Company Law Settlement Scheme 2000
(Rs.) |
Details
of payment a)
Demand
Draft No. b)
Date
c)
Name
of Bank d)
Amount
(Rs) |
|
|
|
|
|
|
|
Company
Registration No.
Signature of the Managing Director / Whole Time
Director / Director / Manager / Company Secretary
10. Whether
declarant on behalf of the company would like to be granted immunity for
non-compliance ?
11.
Submission:
In light of the circumstances herein mentioned above and keeping in mind
the admission of the offence by the applicant/company and taking into
consideration the nature, scope, extent, seriousness, gravity of the offence,
the applicant/company, himself requests for the grant of immunity in the form of
relief for non-compliance.
12. List of
enclosures.
Designation/Signature
of the applicant
Place:
Date:
(SEAL
OF DECLARANT)
I………………………son/daughter /wife of
Shri…………………….in my capacity as………………..in the company, solemnly declare that
–
(a)
the
information given in this declaration is true to the best of my knowledge and
belief.
(b)
The
company had failed to comply with the provisions of the Companies Act, 1956 as
mentioned above.
(c)
I
have withdrawn the appeals pending before Court/Company Law Board /Regional
Director or other adjudicating authority.
I further
declare that this declaration is in my capacity as the Managing
Director/Director and that I am competent to make this declaration and verify
it.
Designation/Signature
of the applicant
Date:
Place:
(SEAL
OF DECLARANT)
CERTIFICATE GRANTING IMMUNITY FROM PENALTY
AND PROSECUTION
UNDER THE
COMPANY LAW SETTLEMENT SCHEME, 2000
Whereas
__________________ (hereinafter
referred to as the company) had made a declaration under the Company Law
Settlement Scheme, 2000, and had filed the documents mentioned below along with
the declaration and also paid the compounding fee of Rs._____________ payable as per the said
declaration:
|
S.No. |
Nature
of return to be filed |
Section
under which to be filed |
|
|
|
|
And
whereas the applicant had also declared that no petition or appeal before any
Court/Company Law Board/ Regional Director against any notice or order in
respect of the fine payable has been filed by such applicant / had withdrawn
such appeal /writ petition from the Court/Company Law Board/Regional
Director.
Now,
therefore, in exercise of the powers conferred under this scheme, the
Undersigned hereby issues this certificate to the said company
to:
(a)
certify
receipt of payment from the
declarant towards full and final settlement of the compounded fee payable under
this scheme;
(b)
grant
immunity subject to the provisions contained in the scheme from instituting and
proceeding for prosecution for any offence under the Companies Act, 1956 or from
the imposition of penalty under the said enactment for the time being in force
in respect of matters covered in the aforesaid declaration made by the
declarant.
Date:
Place:
Designated
Authority
NOTES
ON CLAUSES EXPLAINING THE PROVISIONS OF THE COMPLANY LAW SETTLEMENT SCHEME,
2000
Clause
1 relates to short title and commencement of the scheme for early
settlement of fines payable under
the Company Law Settlement Scheme, 2000.
This clause also contains the date of notification prescribed by the
Central Government for the scheme to come into
force.
Clause
2 contains the definition of certain terms and expressions used in the
scheme.
Clause
3 seeks to provide for settlement of offences and the manner in which the
settlement shall be made.
Clause
4 provides that a declaration under
the Scheme will be made to the designated authority in a particular Form.
Clause
5 provides the time and manner of payment of fees for seeking immunity under the
Scheme. It also provides that in no
event the sum paid for seeking immunity in pursuance of a declaration made under
Clause 4 will be refunded.
Clause
6 seeks to provide about the withdrawal of appeal against prosecution launched
for the offences.
Clause
7 specifies that designated authority shall consider the declaration and upon
consideration shall pass an order in writing, inter-alia, stating the reasons
for granting the immunity.
Clause
8 seeks to specify the circumstances under which provisions of the scheme will
not be applicable.
Clause
9 specifies that after passing the appropriate order, Registrar of Companies
shall inform the concerned Court or Regional Director or Company Law Board
before whom the matter for prosecution or compounding application is pending in
appropriate cases.
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