Dormant company benefits

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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2014 what are the benefits of being a dormant company.what are the exemptions available in relation to requirement of audit and the compliances in roc to it as per Cos Act 2013?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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16 September 2014 Benefits/Relaxations

1. Need not require to annex cash flow statement to its financials

2. Board Meeting: only one in each half year and gap between 2 meetings not less than 90 days

3. Annual returns for dormant companies carry less disclosure requirement

4. provisions relating to rotation of auditors shall not apply.