The Department of the Registrar of Companies saw an influx of over 150 fighting their way into the premises to avoid the increased registration fee to be imposed from today (January 1).
The crowd gathered in a desperate attempt to avoid having to pay Rs.60,000 as company registration fee as opposed to the Rs.5000 fee that is charged upto December 31. This imposition created more alarm as the fee for cancellation or striking a company off the registry was increased to Rs.250,000 from January 1.
"Today is the last day to avoid heavy fine imposed by the 2016 budget for companies, a senior official at the Department of the Registrar of Companies said. He said the influx was to avoid the heavy payment that will occur if they decide to pay it this year.
The official said the crowd subsided later in the afternoon.
"Although we are to close at 3.30pm, we will make sure that all representatives of companies coming to either cancel or register will be served regardless of time," the official said.
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