E- Form INC.20A (Declaration for commencement of business) available for filing w.e.f. 26.01.2019

 

Dear Reader,

E- Form INC.20A (Declaration for commencement of business) will be available for filing on MCA portal in Company Forms Download page with effect from 26th January 2019.

“Thus, as per Section 10A of Companies Act, 2013 (Commencement of Business), company incorporated after the commencement of the Companies  Amendment) Ordinance, 2019 i.e. 02nd November, 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless a declaration is filed by a director within a period of 180 days of the date of incorporation of the company in form INC-20A with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration. 

Further, where no declaration has been filed with the Registrar within a period of 180 days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of Companies Act, 2013, initiate action for the removal of the name of the company from the register of companies.”