DORMANT COMPANY {Section 455 of the Companies Act, 2013 read with Companies (Miscellaneous) Rules, 2014} [Effective from 1 st April, 2014] New Concept and new definition, yes, the Companies Act, 2013 introduced a new concept i.e. Dormant Company , for the Companies which are registered under this Act and for the inactive Companies incorporated under the Companies Act, 1956. This concept will help of those companies which are not doing any business activity for last two years and don’t want their company’s name to be struck off from the Register of Companies. In the Current situation, this will help the Startup Companies, who have idea to execute and incorporated the company but want some time to execute or to accomplish it. As per Section 455 of the Companies Act, 2013, where a company is formed and registered under this Act 1. for a future project, or 2. to hold an asset or intellectual property, and 3. has no significant accounting tran