Do dormant companies have to file annual returns?
Answer: Dormant companies that are not listed and have total assets less than or equal to $500,000 do not need to hold annual general meetings (AGM) unless requested by shareholders or auditors. All other dormant companies must hold their AGMs and file annual returns.
Do dormant companies need to file accounts?
A dormant company may not be in the forefront of directors’ minds, but even if they do not intend to carry on any kind of business activity or receive any form of income, they must still file annual accounts and send Companies House confirmation statements every year.
How many dormant companies are there in India?
Companies located in India and having status as Dormant Under Section 455
| CIN | Company |
|---|---|
| U40300MH2011PTC217422 | AADITYA POWER VENTURE PRIVATE LIMITED |
| U51101WB2010PTC147260 | AAGAM VINTRADE PRIVATE LIMITED |
| U70200HR2011PTC043206 | AANYA BUILDWELL PRIVATE LIMITED |
| U52100UP2016PTC076136 | AAS ENTERPRISES PRIVATE LIMITED |
Is AGM required for dormant company?
No requirement to hold Annual General Meeting every year; No need to hold and convene four (4) Board Meetings in a year, etc.
Is there any dormant company in India?
One such aspect which was introduced in the Companies Act 2013 was the concept of Dormant Companies in section 455 of this act….Procedural Formalities to get the Status of a Dormant Company.
| Directors | Minimum number of directors: Public Company:3 Private Company:2 One Person Company:1 |
|---|---|
| Rotation of auditors | Not applicable |
What is a dormant company in India?
In common parlance, the word “Dormant” means inactive or inoperative. A dormant company is an excellent opportunity to start a company for a future project or hold an asset/intellectual property without having significant accounting transactions.
How can I make my company dormant in India?
Process for Obtaining Status of Dormant Company
- Call a Board Meeting- to call EGM.
- Authorization to director to make application for Dormant with ROC.
- Issue Notice of General Meeting.
- Engage an Auditor/ Chartered Accountant to issue certificate.
- Hold Extra Ordinary General Meeting.
Can a dormant company pay salary?
Despite being registered and incorporated, dormant companies are not permitted to carry out any type of trading activities. This includes buying or selling goods, buying property or business assets and managing company investments. In addition to this, dormant companies cannot pay directors a salary or employ staff.