Standing Order No. 2652/2023 of the Law Department, Government of Kerala dated 1st May, 2023 on the holding of assets by a dormant company [C1B-R4W]

Standing Order No. 2652/2023

GOVERNMENT OF KERALA

Law Department, Government of Kerala

Thiruvananthapuram, dated the 1st May, 2023

STANDING ORDER

To

All Inspectors,

Subject: The holding of assets by a dormant company by dormant companies under the Kerala Chitties Act, 1975, regarding.

In exercise of the powers conferred by section 9 of the Kerala Chitties Act, 1975 (Kerala Act 23 of 1975), the Law Department, Government of Kerala hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the holding of assets by a dormant company by dormant companies.

2. The matter has been examined. Every dormant company carrying on the holding of assets by a dormant company shall make an application in Form INC-22 to the Regional Director within seven days, accompanied by a fee of five hundred rupees.

3. The Inspector shall ensure that resolution is dealt with as directed above, and shall report compliance to the Regional Director within seven days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Law Department, Government of Kerala.

(Secretary to Government)