law: Companies Act, 2013 
  455.
  
    Dormant
  
  company.
  1.      Where a company is
  
  formed and registered under this Act for a future project or to hold an asset
  
  or intellectual property and has no significant accounting transaction, such a
  
  company or an inactive company may make an application to the Registrar in such
  
  manner as may be prescribed for obtaining the status of a dormant company.
  Explanation. —For the purposes of
  
  this section,—
               
  
   i.        
  
    “inactive
  
  company” means a company which has not been carrying on any business or
  
  operation, or has not made any significant accounting transaction during the
  
  last two financial years, or has not filed financial statements and annual
  
  returns during the last two financial years;
              
  
   ii.        
  
    “significant
  
  accounting transaction” means any transaction other than—
  a.     
  
    payment
  
  of fees by a company to the Registrar;
  b.    
  
    payments
  
  made by it to fulfil the requirements of this Act or any other law;
  c.     
  
    allotment
  
  of shares to fulfil the requirements of this Act; and
  d.    
  
    payments
  
  for maintenance of its office and records.
  1.     
  2.      The Registrar on
  
  consideration of the application shall allow the status of a dormant company to
  
  the applicant and issue a certificate in such form as may be prescribed to that
  
  effect.
  3.      The Registrar shall
  
  maintain a register of dormant companies in such form as may be prescribed.
  4.      In case of a company
  
  which has not filed financial statements or annual returns for two financial
  
  years consecutively, the Registrar shall issue a notice to that company and
  
  enter the name of such company in the register maintained for dormant
  
  companies.
  5.      A dormant company
  
  shall have such minimum number of directors, file such documents and pay such
  
  annual fee as may be prescribed to the Registrar to retain its dormant status
  
  in the register and may become an active company on an application made in this
  
  behalf accompanied by such documents and fee as may be prescribed.
  6.      The Registrar shall
  
  strike off the name of a dormant company from the register of dormant
  
  companies, which has failed to comply with the requirements of this section.