The term Dormant itself defines an inactive, non-functional or suspended state. Keeping in line, the Section 455 of The Companies Act, 2013 also describes a Dormant Company as a company which has no significant accounting transaction. The term Significant Accounting Transaction indicates transaction other than:-
The payment of fees to Registrar,
The payment made to fulfill requirements of the Act,
The payment made in order to maintain office or record, and
Allotment of shares.
Moreover, a Dormant Company must have:-
3 Directors in case of Public Company,
2 Director in case Private Company, and
1 Director in case of One Person Company
What are the documents required to be attached while filing form?
The following are documents are required to be attached:-
Latest Financial Statement
Statement of Accounts
List of Shareholders
List of Directors
Notice of EGM
How to revitalize a Dormant company?
For obtaining the status of an Active company an application shall be made in Form MSC-4 and shall also file return in Form MSC-3of financial year in which application for obtaining the status of Active Company is being filed.
The Registrar shall, after considering the application in Form MSC-4, issue a certificate in Form MSC-5 allowing the status of an Active company to the applicant.