What is Easy Exit Scheme (EES), 2011?
“Easy Exit Scheme, 2011” is a scheme to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956.
What is the time period of the Scheme?
The Scheme shall come into force on the 1st Jan, 2011 and shall remain effective up to 30th April, 2011.
Which are the companies to whom EES, 2011 is not applicable?
The Scheme does not inter-alia cover the listed companies, companies that have been delisted, section 25 companies, vanishing companies, companies under inspection/investigation, companies against which prosecution for a non-compoundable offence is pending in court, companies having outstanding public deposits or secured loan or dues towards banks and financial institutions or any other Government Departments etc. or having management dispute or company in respect of which filing of documents have been stayed by court or CLB or Central Government or any other competent authority.
Refer general circular number 6/2010 available on MCA portal under News & Events and under heading Act, Bills and Rules for details.
What is the procedure for making application for striking off the name under ESS, 2011?
The Company desirous to get its name struck off from the Register shall file an application with the Registrar in the prescribed Form EES, 2011.
Is there any fee for filing Form EES, 2011?
Yes, applicant is required to file an application in the prescribed Form EES, 2011 along with prescribed fee of Rs.3000/-
Who can sign Form EES, 2011? Whether digital signature of authorised signatory of the company is a mandatory requirement for filing the Form ESS, 2011?
In case there are active signatories of the company existing in the MCA21 system, then the Form shall have to be mandatorily digitally signed by the authorised signatory of the company.
In case no such signatories are existing in the MCA 21 system, then a physical copy of the Form duly filled in, shall have to be signed manually by a director authorised by the Board of Directors of the company and shall be attached with the Form.
In all cases, certification by a practicing professional (i.e. CA/ CS/ CWA) is mandatory.
In case any stakeholder has any objections to the Striking off the name of any company from the Register, what shall be done in such case?
List of applications filed under EES, 2011 will be available on the portal. In case any stakeholder has any objections to the Striking off the name of any company, he/she may raise such objection with the concerned RoC Office within 30 days from the date of filing Form EES, 2011 by the company.
The Fast Track Exit Scheme allows non-defunct companies an easy exit by having their names struck off the Register of Companies. The Easy Exit Scheme was introduced by the Ministry of Corporate Affairs (MCA) to allow defunct companies an easy exit by having their name struck off the Register of Companies, where they have been inoperative since incorporation or commenced business and subsequently became inoperative. However, there are many other companies registered under the Companies Act 1956 which commenced operation and then became inoperative, have been inoperative since incorporation or were initially operative but later became defunct. To allow such companies to benefit from such a scheme, the ministry introduced its new guidelines under the fast-track scheme. These guidelines were implemented on July 3 2011.
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Is it possible to strike off a company which has not submitted any annual report including the balance sheet and profit & loss account right from inception with the ROC, through this EES 2011. If possible, what are the documents they have to attach besides the EES form and the authorisation letter and the fees for such period ?