One Time Opportunity In Company Law Settlement Scheme, 2014

The Ministry of Corporate Affairs has issued circular no. 34/2014 dated 12th August, 2014 providing one time opportunity by introducing the Company Law Settlement Scheme, 2014 in order to provide the facility to the corporate to file the Annual Returns and Annual Financial Statements as it was observed that a large number of companies have not filed their statutory documents which makes such companies liable for heavy penalties and prosecution for such non- compliances.

SOURCE: www.corporatelawreporter.com