Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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of <h1>Companies with No Activity Can Declare No Assets Without Audited Statements; Must Submit Latest Financials if Filed Earlier.</h1> Companies with no operations or financial activity since incorporation can declare no assets and liabilities without attaching audited financial statements. If they have filed financial statements, they must submit the latest one prepared up to a month before the application. Companies that ceased operations after some activity must file audited statements for periods of one year or more and a Statement of Account for subsequent periods. If operations lasted less than a year, only a Statement of Account is needed. Companies can voluntarily file regular audited statements for subsequent periods. 'Financial Statements' refer to balance sheets and profit and loss accounts per the Companies Act, 1956.
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