commerce baba

 As per Section 406, a company which has been incorporated as a nidhi with the object of cultivating the habit of thrift (cost cutting) and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefits and which complies with such rules as are prescribed by the Central Government for regulation of such class of companies. Conversion of a P into a Public Compar 1. Pass special resolu of its articles the three

  Dormant company:-               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.          "Significant accounting transaction" means any transaction other than- (i) payment of fees by a company to the               Registrar. (ii) payments made by i...