Companies Act, 2013

Section - 455 - Dormant company

Dormant company.

455. (1) Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make an application to the Registrar in such manner as may be prescribed for obtaining the status of a dormant company.

Explanation.-For the purposes of this section,-

(i)	-	"inactive company" means a company which has not been carrying on any business or operation, or has not made any significant accounting transaction during the last two financial years, or has not filed financial statements and annual returns during the last two financial years;
(ii)	-	"significant accounting transaction" means any transaction other than-

(a)

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