Declaration- Commencement of Business - e- form 20A - Series - 416
Declaration- Commencement of Business
Companies (Amendment) Ordinance, 2019
E-form 20A w.e.f. 26.01.2019 Section 10A Rule 23A
· Effect of new section:
· A declaration is filed by the directors within 180 days from date of incorporation of company with Roc that ‘every subscriber to the MOA has paid the value of the shares agreed to be taken by him”.
1. In which Form Company shall file declaration.
2. Whether ROC shall issue any Certificate of Commencement of Business after filing of declaration.
3. Whether Company can start business or generate revenue before filing of declaration with ROC in e-form 20A.
4. Whether it is mandatory for companies incorporated after 02.11.2018 to file e-form INC-22 within 30 days of Incorporation.
5. What shall be proof to show that Company has received subscription money from subscribers?
6. What shall be consequences (in form of penalty), if company fails to file e-form 20A within 180 days?
7. What can be other consequences, if Company fails to file e-form 20A declaration with ROC
· Form 20A is mandatory to get certified by Practicing CS, CA or CWA. Therefore, if there is any default in form or documents professionals shall be liable u/s 448 and 449.
8. Information required mentioning in e-form 20A (Declaration):
I. CIN, Address and Email ID Shall be Pre-filled
II. Whether the affairs of the Company is regulated by any sectoral regulator (Select Yes or No)
· Proof of Subscription of Money
9. When form 20A shall be available on MCA Website:
E-form 20A shall be available on MCA website w.e.f. 26th January, 2019.
(Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at firstname.lastname@example.org)
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