this is a case of restoration of a company.
actually the company was defund 21 yrs back n all share holders wer paid n comp's name has been remaove fm Roc also, n affidavit was also fild that company is defund/ sick/dead.
now after 21 yrs we came to knw that company still hav some property cost 25 lacks. n we want 2 restore the company, but for dead comp it is necessary that comp has no property left, so now wht will happens as property is showing, is we hav 2 file annual return for past 21 yrs, or declaration of defund is wrong, or we have 2 pay penalty for that if if wht amount of penalty.
now we hav 2 restore the company, how much time it will take to restore it?
Wht will be the legal and financial involvement towards penalty and other expenses.?
Can we settle the shareholders payin the money to them without restoring the comp.
plz advise wht 2 do
CAclubindia
