Every company incorporated in India with share capital must file Form INC-20A (Declaration for Commencement of Business) with the Registrar of Companies (ROC) before starting its business activities.
Failure to file INC-20A within the prescribed time may result in heavy penalties and even company strike-off.
LegalxIndia helps newly incorporated companies file INC-20A quickly and accurately, ensuring full compliance with MCA regulations.
What is INC-20A Filing?
INC-20A is a mandatory declaration filed with the Ministry of Corporate Affairs (MCA) confirming that the company’s shareholders have paid the subscription money for shares mentioned in the Memorandum of Association (MOA).
Under Section 10A of the Companies Act, 2013, companies cannot commence business or borrow money unless this declaration is filed.
This compliance applies to:
- Private Limited Companies
- Public Limited Companies
(Companies incorporated after November 2018 with share capital.)