Section 455 of CA 2013 : Section 455: Dormant Company
CA 2013
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Explanation using Example
Imagine a company, XYZ Tech, was formed with the sole purpose of holding a patent for a futuristic technology that is not yet viable for commercial use. Over the past two financial years, XYZ Tech has not been involved in any business operations or made any significant accounting transactions besides paying the fees to the Registrar, maintaining its office and records, and allotting shares to fulfil the requirements of the Companies Act. It also hasn't filed any financial statements or annual returns du...
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