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CS Executive · Company Law and Practice · Legal Status and Types of Registered Companies

Meera Exports Pvt Ltd has not filed its financial statements or annual returns for two financial years consecutively and has not applied for dormant status. What does section 455 require of the Registrar?

The Registrar must issue a notice to the company and enter its name in the register of dormant companies. Under section 455(4), failure to file financial statements or annual returns for two consecutive financial years triggers this, without the company having to apply.

  1. AStrike off the company immediately without notice
  2. BRefer the company to the Tribunal for winding up
  3. CIssue a notice to the company and enter its name in the register of dormant companiesCorrect
  4. DWait for the company to apply for dormant status before acting

Explanation

Section 455(4) provides that where a company has not filed financial statements or annual returns for two consecutive financial years, the Registrar shall issue a notice to it and enter its name in the register maintained for dormant companies. No application is needed.

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