1. Every company (Public or Private) being inoperative since formation or has not carried out any business activities since 1st April 2008 is eligible for winding up under the scheme.

2. The company having following items in the balance sheet will not be eligible under the Scheme

a. Secured loan

b. Any dues to the Government authorities like sales tax, income tax, service tax, excise duty, and dues to local authorities

c. Public deposit accepted u/s 58A

3. The scheme is not applicable to the following company

a. Listed company

b. Company that have been de-listed

c. Sec 25 Company

d. Vanishing Company

e. Company in which inspection / investigation has been carried out and pending before court

f. Companies against the non-compounding offence is pending before the court

g. Having management dispute

h. CLB/Central Government has stayed the order for non-filing of documents

4. The ROC will charge Rs. 3000.

5. No Digital signature certificate (DSC) is required to file the forms.

6. No DIN 3 / Form no 32 is required to be filed with ROC for the directors

7. Government Company can also take the benefit of the Scheme.

8. Less documentation, only following documents are required

a. Balance sheet not before the 30 day from the date of filing the Form under the scheme and that is to be signed by CA/Auditor.

b. Affidavit from all directors

c. Indemnity bond from all directors.

d. Board Resolution

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October 2020