F.No. 17/27/2002-C.L.V

Government of India

Ministry of Finance

Department of Company Affairs

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Shastri Bhavan, New Delhi.

Dated the    13^th   October, 2003

  

PRESS NOTE NO: 3/2003

 

Sub:     Introduction of Company Law Settlement (Jammu and Kashmir) Scheme, 2003

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The Government has been receiving representations for introduction of  a Company Law Settlement Scheme in Jammu and Kashmir (similar to Company Law Settlement Scheme, 2000) in order to provide relief and opportunity to companies in the State of Jammu and Kashmir,  which could not take advantage of  Company Law Settlement Scheme, 2000.  Since the business environment in the State has since changed,  a scheme,  namely “The Company Law Settlement (Jammu and Kashmir) Scheme, 2003” has been introduced for the state of Jammu and Kashmir. This is similar to Company Law Settlement Scheme, 2000.  The scheme commences on 1^st October, 2003 and will be in operation upto 31.3.2004.

 

2.         The Scheme requires the applicant company or its officers, to make a declaration to the Registrar of Companies (ROC), Jammu and Kashmir along with the lump sum amount,  which has been fixed on the basis of number of documents, and the period of delay.   On receipt of this declaration, the ROC, Jammu and Kashmir shall take necessary steps to issue Immunity Certificate to the applicant company. It is hoped that a number of the registered companies in Jammu and Kashmir will take advantage of this opportunity.

 

3.         A copy of relevant notification No: [S.O. 1136(E)] published on 30.9.2003 is placed on the web-site of the Department.

 

4.         Copy of this Press Note has been placed at the Web page of the Department of Company Affairs at the Internet Address http://dca.nic.in .

  

 

 

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