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CS Executive · Company Law and Practice · Dormant Company

Sunrise Agro Ltd filed no financial statements or annual returns for two consecutive financial years. What does Section 455(4) direct the Registrar to do?

The Registrar shall issue a notice to the company and enter its name in the register maintained for dormant companies. Section 455(4) applies where financial statements or annual returns have not been filed for two consecutive financial years.

  1. AIssue a notice to the company and enter its name in the register of dormant companiesCorrect
  2. BImmediately dissolve the company
  3. CProsecute the directors before the Tribunal for winding up
  4. DWait for the company to apply and take no action otherwise

Explanation

Section 455(4) covers a company that has not filed financial statements or annual returns for two financial years consecutively. The Registrar shall issue a notice and enter its name in the register of dormant companies. No immediate dissolution is provided by this subsection.

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