incorporation months after filing
As per Section 10A of the Companies Act, 2013, every company incorporated on or after 2nd November 2018, is required to file a declaration of commencement of business within 180 days of incorporation in the form of INC-20A.
If a company fails to file INC-20A within the stipulated time of 180 days, it will be considered as a defaulting company, and the Registrar of Companies (ROC) may take appropriate action, including imposing penalties and striking off the name of the company from the register.
However, if a company is unable to commence its business within the 180 days due to genuine reasons, it can file an application with the ROC to file the declaration subject to additional fees.
In summary, it is advisable for a company to file INC-20A within the stipulated time of 180 days of incorporation to avoid penalties and non-compliance issues. However, in case of genuine reasons for the delay, the company can seek an extension of time from the ROC.
Yes,
If a company fails to file Form INC-20A within 180 days of incorporation, it may face penalties for non-compliance. The Registrar of Companies (ROC) may also initiate the process of striking off the company's name from the register of companies.
If a company has not filed Form INC-20A within the prescribed time, it should file the form as soon as possible to avoid any legal consequences. Filing the form after the prescribed time may attract penalties, but it may still prevent the company's name from being struck off from the register of companies.
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