Company commencement: file director declaration and registered office verification within 180 days or face penalties and possible name removal. Companies with share capital must not commence business or borrow unless, within 180 days of incorporation, a director files a prescribed declaration that each memorandum subscriber has paid for their shares and the company files registered office verification; non-compliance attracts a fifty thousand rupee company penalty and daily officer penalties up to one lakh rupees, and the Registrar may remove the company's name if no declaration is filed and the company appears inactive.