A company has been incorporated in the year 2008 and till now it has not carried on any business.Does it have to furinish the audited accounts while making the application u/s 560? cant it just give a declaration saying that there were no financial activities in the company and that the company has no assets or liabilities instead of furnishing the accounts? Please guide
30 March 2010
Madam I have given a web reference. Please go through the same carefully. Now coming to your specific question. 1. Audited balance sheet is compulsory. 2. ROC returns must be updated. 3. No financial activities/no assets etc should be mentioned in the application/ affidavits etc but that will not be an alternative to the requirements in 1. and 2. above.