Application for exemption under Section 211/212

Applications seeking exemption under Section 211 of the Companies Act should be accompanied by :

  1. Specific Board resolution in support of the proposal indicating specific paras of Part II of Schedule VI and the financial year in respect of which exemption is sought.
  2. Copies of approvals under Section 211 obtained, if any, during the last three financial years.

The following information should invariably be furnished with the application in the fields forming part of the eForm:

  • The financial year for which exemption is sought.
  • Precise reasons/justification for seeking exemption.
  • If the company had been complying with the requirements in the past, reasons as to how the company has been complying in the past.
  • It should be indicated as to whether the company is maintaining proper purchase/ sales/ stock registers so as to furnish true and fair view of its state of affairs in compliance of Sections 209/211 read with Schedule VI to the Act.
  • Details of total turnover and exports made by the company during the financial year in respect of which exemption is sought.

Applications seeking exemption under Section 212 of the Companies Act should be accompanied by :

  1. Specific Board resolution in support of the proposal mentioning inter-alia the names of subsidiaries and their financial year in reference.
  2. Copies of approvals under Section 212 obtained, if any, during the last three financial years.

The following information should invariably be furnished with the application in the fields forming part of the eForm:

  • The financial year for which exemption is sought. This year should also be the year mentioned in the accompanying board resolution.
  • Precise reasons/justification for seeking exemption.
  • Names of subsidiaries in respect of which exemption is sought.
  • Dates on which the companies became subsidiaries of the applicant company.
  • The financial years of the holding and subsidiary companies under reference.

The companies may have to furnish any other additional information as may be asked for by the Department.

Source: “www.mca.gov.in” The checklist is a direct extract from MCA website.

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