The Government has extended the Easy Exit Scheme for the defunct companies for another three months. An official release says, the Ministry of Corporate Affairs had decided to introduce Easy Exit Scheme for a month till January only. Now this has been extended till April this year. This scheme gives an opportunity to the defunct companies, for getting their names struck off from the Register of Companies. Availing the benefit of the Scheme timely will prevent companies from prosecution and other legal action. After the closure of the Scheme, the Ministry of Corporate Affairs would take penal action against the directors of the defaulting companies who have not taken steps for de-registration of the company.