Disclosure for company with no activity?

This query is : Open

Nandakumar K Konkar (Querist)
Follow

10 May 2011 Do we have to make any disclosure in the Notes to Accounts of a company that has no activities & is hence dormant [Co Law filing of Annual Returns, Balance Sheet, etc are done regularly].
This also does not fall within the scope of 'Discontinuing Operations' as no activity has been formally discontinued.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

10 May 2011 Yes ,disclosure is required as a corollary to Accounting standards like AS-9.

Message likes : 1 times

Nandakumar K Konkar

Nandakumar K Konkar (Querist)
Follow

10 May 2011 Thanks, Mr. Warrier,
I suppose that Notes on Accounts should contain a note such as-

"No revenue has been recognised in the absence of any revenue earning activities by the company during the year"