A dormant company, as introduced through “Dormant company” Section 455 of the companies Act, 2013, refers to a company that does not engage in transactions that are of significant financial nature and are instead restricted to holding intellectual property or future projects or assets that might exist in the future.
In its lawful sense, according to the Companies Act, 2013, under section 2(20), the term organization is characterized as "a company incorporated under the Companies Act 2013 or any previous company law.”
Private Company To be consolidated as a Private Company, an organization should have a base settled up capital of Rs. 1, 00,000, and a base number of individuals needed to shape a privately owned business is at least 2 individuals.
The section will involve withdrawals made by any taxpayer, including individuals, Hindu Undivided Family (HUF), a company, a partnership firm or an LLP, an Association of Person, a local authority, post-office, and any other bank.
In WITNESS WHEREOF The landlord and the tenant have hereunto subscribed their hand at ______ (place) on this the _____________ (date of rent agreement) year first above mentioned in presence of the following witnesses.