Anshul Gold Farm Ltd. has obtained the status of dormant company on 15th December, 2018. Enumerate the various exemptions which the company shall be entitled to under the Companies Act, 2013.

Benefits/Exemptions Provided to a Dormant Company As the Anshul Gold Farm Ltd has obtained the status of Dormant Company, they are eligible to enjoy the following exemptions: Dormant Company shall hold only two board meetings in a year with a gap of 90 days in between the two meetings. Dormant Company is not required to include the statement of cash flow in its financial statement. The provision of rotation of auditors is not applicable in case of a dormant company. Dormant companies enjoy the advantages of lower statutory compliance cost as there are few statutory compliances applicable to a dormant company as compared to active company. Dormant status is an advantage to promoters who want to hold an intellectual property or an asset under the corporate shield for its usage at a later stage. Companies can enjoy the status of a dormant company for a period of 5 consecutive years.