GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF COMPANY AFFAIRS

New Delhi, the 30.9.2003

NOTIFICATION

S.O.1136(E). – Whereas the Central Government has decided to make a Scheme namely, the Company Law Settlement (Jammu and Kashmir) Scheme, 2003 for granting immunity from prosecution and compounding the period of delay involving in filing certain documents under the Companies Act, 1956 ( 1 of 1956) to companies in the state of Jammu and Kashmir;

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 (Jammu and Kashmir) Scheme, 2003.

(2) It shall come into force on the 1st October, 2003.

2. Definitions.- In this Scheme, unless the context otherwise requires, –

(a) “Act” means the Companies Act, 1956 (1 of 1956);

(b) “company” means a company (including a Government company) registered under the Act and having its registered office in the state of Jammu and Kashmir;

(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, Jammu and Kashmir;

(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 alongwith proof of payment of prescribed fee under acknowledgement on or after the 1st day of October, 2003 but on or before 5.00 PM of the 31st day of March, 2004 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 designated authority.-  The declaration under the Scheme shall be made to the designated authority 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:-

Table

Sr. 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 alongwith a challan Form in any of the designated Branches of the Punjab National Bank or by way of Pay Order or Demand Draft payable to the Registrar of Companies, Jammu and Kashmir. 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 the Registrar of Companies along with the 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.

8. After passing the appropriate order, the Registrar of Companies, Jammu and Kashmir shall inform the concerned Court or Regional Director or Company Law Board before whom the matter for

FORM – ‘A’

DECLARATION UNDER

COMPANY LAW SETTLEMENT (Jammu and Kashmir) SCHEME, 2003

Form of Declaration

To

The Registrar of Companies,

Jammu and Kashmir

Sir/Madam,

I/We herewith make a declaration under the Company Law Settlement (Jammu and Kashmir) Scheme, 2003 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

Sr.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 (Jammu and Kashmir) Scheme, 2003

(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)

VERIFICATION

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 Act 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 (Jammu and Kashmir) SCHEME, 2003

Whereas __________________ (hereinafter referred to as the company) had made a declaration under the Company Law Settlement (Jammu and Kashmir) Scheme, 2003, 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:

Sr.No. Nature of return to be filed Section under which to be filed

And, whereas, the declarant 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 Act, or from the imposition of penalty under the Act for the time being in force in respect of matters covered in the aforesaid declaration made by the declarant.

Date:

Place:                                                                               Designated Authority

[ F.No: 17/27/2002-CL.V ]

( Rajiv Mehrishi )

Joint Secretary

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