HOTEL COMPANIES TO PAY FEES FOR EXEMPTION APPLICATION
The Government in the Department of
Company Affairs (DCA) has issued a Gazette notification amending
the Companies (Fees on Applications) Rules 1999 requiring hotel
companies to pay fees based on its authorised share capital for
seeking exemptions from paras 3 (1) (a) and 3 (11) (d) of part
II of Schedule VI of the Companies Act, 1956 for three years with
immediate effect.
For application made by a hotel
company to the Central Government under Sub-Section (4) of Section
211 of the Companies Act 1956, amounts of fees to be paid by hotel
companies having an authorised share capital of less than Rs,
25,00,000 has been fixed at Rs, 2,500, for hotel companies with
authorised share capital of Rs, 25,00,000 or more but less than
Rs. 5 crore at Rs. 5000 and for those hotel companies with paid
up share capital of Rs. 5 crore or more at Rs. 10,000.
The notification has been issued
under Sub-Section (1) of Section 642 read with Sub-Section (2)
of Section 637 A of the Companies Act 1956.
This is the second amendment effected
in the Companies (Fees on Applications) Rules since promulgated
first on July 6, 1999.
