The company behind Carnival Fifty-Six has been threatened with a striking off order after auditors noticed the firm “appears not to be in business”.
Jigsaw Events & Management (JEM)Limited – which traded under the name JEM Concerts – brought the two-day festival to Camperdown Park last summer.
But Companies House is taking action after the firm failed to supply records of accounts, meaning the company could be dissolved.
A spokesman for Companies House said: “The Registrar is taking action under section 1000 (3) of the Companies Act to strike the company off the register as it appears not to be in business or operation.”
The notice casts fresh doubt on whether Carnival Fifty Six will ever return to the city, despite the fact the festival has approval from Dundee City Council to run until 2021.
It was announced in February that the event was cancelled for 2018, but organisers said they hoped to bring the festival back the following year.
About 16,000 revellers flocked to the huge music event last August to see the likes of Mark Ronson, Basement Jaxx and The Charlatans, as well as local stars Be Charlotte, The Law and The View frontman Kyle Falconer.
The Tele attempted to contact Brechin-based Allan Carnegie, the last remaining director of JEM Ltd, but received no response.
A spokeswoman for JEM Concerts said following the cancellation in February: “After much consideration the decision has been taken to not return the festival to Camperdown Park for 2018.
“We are taking a year off to explore the potential future direction of the show and hope to return in full effect in 2019.”
In October Craig Blyth, Carnival Fifty Six founder and JEM Concerts director, quit due to a “fundamental difference of opinion about how the future of the business should progress”.
He said: “I would like to thank all of the partners, sponsors and customers who put faith in the project from day one, and wish the current team and staff members all the best should the project continue in the future.”
Carnival Fifty Six, hailed a huge success by attendees, was the first major event to be held at Camperdown Park since Radio One’s Big Weekend in 2006.
A new festival will arrive in Dundee in September to mark the opening of the V&A Museum.
DF Concerts, the firm behind T in the Park and TRNSMT, is hoping to attract 20,000 people to 3D Festival at the Waterfront with live music, design and performance between September 14-15.
The festival is being planned by a group of 16 to 25-year-olds dubbed V&A Dundee’s Young People’s Collective.