Old Company

Save Share

This query is : Resolved

Rohan (Querist)
Follow

17 February 2010 A is pvt company was formed in 1990. A property was purchased in the the year 1992. However thereafter no business is made and the company has not complied with Co Act and IT Act. The paid capital is also not raised to Rs.1 Lakhs as required by amended co act.

Now the company wants to sell the said property or otherwise sale the company... what is the current status of the company with ROC? If company makes any capital gain then can we file it return for this year without first filing returns for earlier years?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

17 February 2010 To know the 'status' of the company visit www.mca.gov.in and check company master data. U can see the status in the last column either as 'active' or as 'strike off'. Answer to the rest of the question may vary according to the present 'status' of the company.

Rohan

Rohan (Querist)
Follow

17 February 2010 The status of the company is showing as "under process of strikining off".

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

17 February 2010 The company might have received notice under section 560(2) from ROC. Check with the company and see what course of action they have taken against that notice.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now