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Para 8 - Compounding Application - Simplified Exit Scheme, 2005Extract Compounding Application 08. A company shall not be allowed to avail of this scheme in case any prosecution for a non- compoundable offence is pending against the company. The company shall declare pending litigations, if any, involving the company while applying under this scheme. However, in respect of companies which are involved in compoundable offences under the Companies Act, 1956, the company will be allowed to avail of the scheme only if the company files a compounding application first and then applies under this scheme.
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