01 May 2011

IndianCAs: Clarification on EASY EXIT SCHEME,2011



Section 560 of the Companies Act, 1956 – Power of Registrar to strike defunct company off register - Easy Exit Scheme, 2011 - Monitoring of Compliance Report with regard to action taken for filing of prosecution against defaulting companies through MCA 21

LETTER [2/7/2010-CL-V], DATED 15-4-2011

I am directed to refer to the Ministry's letter of even No. dated 11-3-2011 whereby it was requested to furnish the Compliance Report to the Ministry with regard to action taken for filing of prosecution against such defaulting companies in given format.

2. Secretary, MCA has desired that the Compliance Report shall be monitored through MCA 21 and be a part of their progress report. It has been observed that details of prosecutions 'filed' and 'yet to be filed' are not being updated on the Ministry's portal. Hence, you are requested to update the prosecution module so that the requisite data can be captured through MCA 21.

| Ashwin Nagar | FCA and SAP-Finance & Consolidations |
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