Guidelines for filing statutory applications under Section 212

Applications seeking exemption under Section 212 of the Companies Act should be accompanied by:

(i) Demand draft drawn in favour of the Pay & Accounts Officer, Department of Company Affairs and payable at New Delhi for amount as indicated below:

(a) Rs. 500/- for companies with authorised share capital of

less than Rs. 25 lacs

(b) Rs. 1000/- for companies with authorised share capital of

Rs. 25 lacs or more but less than Rs. 5 crores.

(c) Rs. 2000/- for companies with authorised share capital of

Rs. 5 crores or more.

(ii) Specific Board resolution in support of the proposal mentioning inter-alia the names of subsidiaries and their financial year under reference.

(iii) Annual report of the company for the year previous to the one for which exemption is sought.

(iv) Copies of approvals under Section 212 obtained, if any, during the last three financial years.

The following information should invariably be furnished with the application:

(i) The financial year for which exemption is sought. This year should also be the year mentioned in the accompanying board resolution.

(ii) Precise reasons/justification for seeking exemption.

(iii) Latest year for which Accounts have been adopted by the company.

(iv) Names of subsidiaries in respect of which exemption is sought.

(v) Dates on which the companies became subsidiaries of the applicant company.

(vi) The financial years of the holding and subsidiary companies under reference.

The companies may have to furnish any other additional information as may be asked for by the Department.