MCA vide its Circular No. 59/2011 dt. 05.08.2011 has announced introduction of Company Law Settlement Scheme, 2011 under which Companies who have not done annual filings can do so belatedly with only 25% of Addl. Fees. This Scheme shall be in force from 12.08.2011 to 31.10.2011.
The relevant Circular can be accessed from the following link.