Mandatory Compliance after Incorporation of a Company
A company is registered on the day its Certificate of Incorporation is issued by the registrar of companies having its jurisdiction over the registered address of the company. Though legally the company has come into existence, it can not start its operations without filing a declaration for the commencement of its business in Form 20A.
For the purpose of filing of the declaration for the commencement of business, the following are pre-conditions.
That the company has a physical registered address.
Ensure that the company has intimated to the ROC its registered address at the time of its incorporation. You should check the Spice Form, which was filed at the time of incorporation of the company. If you found that the company is incorporated on Communication Address then to intimate the registered address of the company file Form INC 22 within 30 days of its incorporation to the ROC, with its filing fee.
Open a current bank account for the company.
Transfer capital from the specific shareholder bank account. The transfer should be exactly the same as it was agreed between the shareholders at the time of registration of the company in the Memorandum of Association (MOA) of the company.
The declaration to commence the business is filed in Form 20A with the ROC and it must be filed within 180 days of incorporation of the company.
Consequences of non filling
In case a company fails to file the INC-20A within 180 Days then the CIN of the company gets blocked and eventually, the ROC would close the company.
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