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meetings bod , agm

05 July 2007

a public limited company default in holding BOD meeting and annual General meeing as there is no activity in the company since few years now what is the status of that company whether one can revive the same if revive than how

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geetika (Manangement Trainee) (30 Points)
Replied 31 July 2007

First of all make this clear in your mind that until the company is not wind up, the company is alive in the eyes of law, so ur company can very well be revived.After paying the penalty for late filing of documents the things will be fine. One thing dont show in the balance sheet that no business has been done, show that a very negligible part of business have been done. In my view the directors of the company must first of all apply for their Directors Identification Number (DIN). Then the company should file all the forms, returs, balance sheet (even if it is of NIL amount) Profit & Loss account and Annual return minutes of AGm etc (all statutory record) with ROC in current date along with filing fees + penalty Then the company should issue share certificates(if it has not been done) After all these formalities the company will be revived.