Company Law Settlement (Jammu & Kashmir) Scheme, 2003
S.O.1136(F).-- 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 along with 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:-
| Sl. 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 along with 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.
9. 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 prosecution or compounding application is pending in appropriate cases.
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:-
-
Name of the declarant and Address: (in Block letters)
-
Name of the Company:
-
Registration No, of company:
-
Date of incorporation of the company:
-
Address of the Company:
-
Status of the company: whether public/private If public Listed/Non-listed
-
Business/objects of the company: (Tick in appropriate column)
-- Manufacturing --
-- Trading --
-- Finance --
-- Service --
-- Others (please specify) --
-
Statement of Declaration of non-compliance
SI. No
Nature of return to be filed
Section under which to be filed
Status of offence (whether still Continuing)
-
Sl. No.
Nature of document
Due date of filing
Period of delay
Amount payable under Company Law Settlement (
Jammu and Kashmir Details of payment
a) Demand Draft No.
b) Date
c) Name of Bank
d) Amount (Rs)
Company Registration No.
-
Whether declarant on behalf of the company would like to be granted immunity for non-compliance?
-
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.
-
List of enclosures.
Place:
Date:
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...
To continue reading
Request your trial