Dormant of a Company

[Siddharam Billur]

Its bit confusing to me Plz anyone clarify

1.After filing dormant form(Form MSC-3), is it required to file AOC-4 & MGT-7 every year? if yes Co should held AGM. (Where the Sec 96 & Sec.92 doesn't Exempt  filing of Form AOC-4 & MGT-7 for Dormant Co.,

2.in Rule 3(v) of Co(Misc) Rules, 2014 Says "There is no dispute in the management or ownership of the company and a certificate in this regard is enclosed with Form MSC-1".  But who should give certificate. Whether CA?/Directors. I think CA. Because In the Form MSC-1 2 kinds of Certificates are required to be attached 1.Certificate by Auditor and 2. Statement of Affairs certified by CA. 

Dear all learned kindly suggest me regarding this, its completely new work to me.

[CS SANDIP LATHIYA]

Answer of First questions is 

Not required to file both form

Sent from Yahoo Mail on Android

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

[Siddharam Billur]

Yes. But Section 92 and 137/96 does not exempts for filing required forms if co is dormant.

S. Billur

[Govinda Patil]

1. Dormant  companies are  required to file AOC 4 and MGT 7

2. Dormant status is only to show that  company is not carrying on business during that time and intends to carry on business subsequently.

3. As regards  certificate- in my view  it should be  signed by all directors . How can a CA or CS give that kind of certificate ? On What basis?

[kushla rawat]

Siddharamji

If company status is Dormant under section 455, then MCA portal could not allow you to file form aoc 4 and mgt 7.

you have to file form MSC 3 within 1 month after year end every year, no other form filing.

I have complied the same for 2 years and after 2 years i have applied for the status "ACTIVE", as company going to do business transactions. and ROC approved the same.

Further go through with section 455 and RULE 7 return of dormant companies.

शुक्रवार, 22 जून 2018 को 12:10:33 अपर UTC+5:30 को, Siddharam Billur ने लिखा:

[Siddharam Billur]

Thanks Kushal Rawat and other frnds.  I opined the same as Rawat ji opined.

Since there is no clear in section 92 and others i bit confused. Later on by reading Meaning of Inactive company definition u/s 455 and sec 248 i got the clearity.

My Justification - Sec 248 says "....... if Co., not have any business or NOT Applied for DORMANT...." so i meant that if co is not having buz it can apply for Dormant and NO need to file AOC-4 & MGT-7, hence no buz is available to transact except as in sec.455. So calling AGM is not come into picture. Even Sec 96 says " TO TRANSACT the BUSINESS, AGM to be called.... " . Hence NO transaction is available So NO AOC-4 & MGT-7. 

Regarding Certificate- I feel Certificate can be issued only the Auditor of the Co., The same is specifically mentioned in the Form MSC-1 "Auditors' Certificate" i.e. should be by the Auditors(& not CA) and NOT by the directors. 

On cut off date(as i take) Auditor or CA shall give statement of financial position. 

S. Billur

You received this message because you are subscribed to a topic in the Google Groups "CSMysore" group.
To unsubscribe from this topic, visit https://groups.google.com/d/topic/csmysore/MoaFjGEH2gw/unsubscribe.
To unsubscribe from this group and all its topics, send an email to csmysore+u...@googlegroups.com.

[Siddharam Billur]

solicit all your views

S. Billur

[Vaishali Patrikar]

Thank you for your email. I have the similar query as follows:-

My one pvt company got dormant status on 5.5.2018. Whiling filing dormant application MSC-1, we made statement of account dated 29.3.2018 and applied in April, 2018. The company got dormant status on 5.5.2018. 

Now, MSC-3 annual form is not taking year end date as 31.3.2018. So I can not file form for 31.3.2018. I will have to file this next year in April, 2019. 

But then, do I have to file AOC-4 and MGT-7 for 2017-18 ? I think, no, because, system will not accept it.  Will there not be any AGM in 2018-19?

 

Regards,

Vaishali

[Govinda Patil]

In my view   status of dormant company is to inform ROC that  company is not doing any business at  present. However it continues to be on the register of   Companies maintained by Registrar of Companies.

They are not exempt from filing annual financial statements.  Hence they have to file AOC  -4 and MGT  7  to  show that there is no change in the status of company.

Hence please  file the documents.  Further  the directors  need to file  DIR 3 KYC also 

Hope the matter is clarified

Note: 
Some members of the group   have  requested me not  to upload my views. But being  senior in  the profession  ( at least by age)  I could not  see  members  not taking  correct steps.  Hence posted this note. I will try to limit this as much as possible

Govinda K Patil

Practising Company Secretary

B-2/1, Kailash Housing Society

Shastrinagar,Kothrud

Pune  411029

Cell: 9823231660

[Siddharam Billur]

i dont think system will accept form aoc-4 and mgt-7, but u just check once. dormant status means, we are not supposed to file  aoc-4, mgt-7 as company cant hold agm

S. Billur

On Tue, Aug 7, 2018 at 11:43 AM Vaishali Patrikar <vapat...@gmail.com> wrote:

[Siddharam Billur]

What!! Who said that kind. Your views are always valuable and share your views. 

S. Billur

[Govinda Patil]

Sorry I stand corrected.  Dormant  Company can file only MSC 3 within  30 days from the end of the financial  year along  with audited  financial statements.

No  need to file AOC  4  and  MGT 7

However if there is any change in directors  or  capital  the  prescribed forms  need to be filed within the prescribed due dates

[Vaishali Patrikar]

Thanks for your views.

Regards,

Vaishali 

[kushla rawat]

i agree with Mr. Govinda Patil.

I have done the same. If you try to upload AOC 4 and MGT 7, system will not accept it.

मंगलवार, 7 अगस्त 2018 को 12:51:56 अपर UTC+5:30 को, Govinda Patil ने लिखा: