File your ROC Form 20A verified by a professional through our Web Portal. Obtain the Mandatory Certificate of Commencement of Business Certificate in India and legally start your business in company.
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All companies that were formed on or after November 2, 2018, must obtain a commencement of Business Certificate in accordance with the Companies (Amendment) Ordinance 2018. The directors of a business must file a Form 20A declaration within 180 days after the company's incorporation date.
The directors' declaration to the registrars of companies is known as the certificate of commencement of business. Furthermore, the chartered accountants, Company Secretary, or cost accountants has to verify the information filled in the form 20-A..
Once the declaration is entirely completed in E-form INC-20A by the company's director, it indicates that the verification of the company's registered office has been completed. In addition, borrowing rights are established and the company can launch their business or begin the business operations only after receiving the Certificate of Commencement of business.
A declaration must be submitted to the registrar of companies [ROC] by the company's owners. The deadline for submitting the statement is 180 days from the day the company is formally established. If you fail to provide this declaration to the registrar as required by sub section 11(3) of the companies act, 2013, ROC has the authority to cancel your registered business name or company name from ROC.
If you have not filed the Form-20A within time, ROC may treat your incorporated company as dormant, since your company has shown no signs of wanting to move forward with the business. The registrar will then be able to take the necessary steps to have your company's name removed from the official registry.
Furthermore, Directors' Section 10A declarations must be included in the e-Form itself as Board Resolutions. Subscribers must also provide a copy of their paid-up share capital deposit proof in the e-Form. In addition to this declaration, the firm shall seek such registrations or approvals from sectoral regulators including the Reserve Bank of India and the Securities and Exchange Board of India, etc., as may be required by the purposes it pursues. Before the e-Form can be submitted to the ROC, it must be reviewed and signed by a practising CA, CS or Cost Accountant.
Before doing business or exercising borrowing rights, newly formed Public and Private Companies with Share Capital must acquire a certificate of Commencement of Business from the relevant Registrar of Companies. This also includes Companies having OPC Registration.
You are exempted from obtaining a Commencement of Business Certificate in India if you fall into the following criteria:
- Companies incorporated before 2 November 2018
- Companies incorporated after 2nd November 2018 without share capital.
Each newly formed corporation has 180 days from the date of its incorporation to submit Form 20A and obtain the commencement of business certificate in India.
#2. Complete Address of the Registered Company
#3. Company Bank Statement evidencing Proof of payment done by subscribers/shareholders
#4. RBI issued a registration certificate, if any
#5. Consent letter or Confirmation Letter from all the Directors and Board Resolution Details
In order to reduce the prevalence of "shell" companies , severe fines or penalties have been instituted for those who fail to comply.
#1. If the company does not get Commencement of Business Certificate in India and begins the business operations, there will be a penalty of Rs 50,000.
#2. A penalty of Rs 1,000 per day for each day of default, up to a maximum of Rs 1,00,000, will be imposed against any such officer in default.
#3. Following 180 days of company registration if the Registrar has reasonable reasons to think the company is not doing any business or operations and has not obtained the Commencement of Business Certificate, the Registrar may remove the firm's name from the Register of Companies.
Consult with our experts to resolve all your queries if any and understand the requirements to apply for Commencement of Business Certificate in India.
Choose the Package and Submit the Documents and pay the fees.
Our team of experts will apply for the Commencement of Business Certificate application on your behalf.
After successful verification of the form by the RoC, you will receive the Commencement of Business Certificate on your email.
We pride ourselves on our top-tier team of experts, which allows us to provide a streamlined, error-free Online Company Registration Service in India. Since 2014, our experts have been routinely registering businesses electronically and staying abreast of any changes made by the MCA. Thus, we are in a position to offer you the finest service possible. Whether you need Certificate of Incorporation or Commencement of Business Certificate or any other service to start your business legally, we are here to assist you.
Yes, After the successful verification of INC-20A, your company will get the Commencement of Business Certificate and will be able to conduct business operations legally.
Certificate of Commencement of Business (COB) is required for both private limited companies and public limited companies with share capital before they may begin operations.
In order to begin accepting loans or borrowings, a company must first file e-form 20A in accordance with Section 10A. Therefore, before obtaining Certificate of Commencement of Business in India, your company can not accept loans from any stakeholder.
The Strike off form STK-2 cannot be filed by a company unless e-form 20A has already been filed. Accordingly, a 20A must be filed prior to the Company Strike Off.
If the subscription fee was paid through bank transfer, a copy of the relevant bank statement must be included. A statement and a copy of the Company's books of account must be included if subscription funds were received in cash.
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