commencement of certificate

[Priyanka Jain]

Dear Sir/Mam

I want to know complete process step wise of how to obtain certificate of commencement of business.

 

Thanxs

Priyanka Jain

 

 

[CS Swati D Rawat]

Certificate of Commencement of Business (Section 149)

A Public company cannot start its business unless it gets a certificate of commencement of business (COB) from the Registrar of companies.

1. Convene Board Meeting after giving notice to all the directors [Section 286] to discuss besides others the following matters.
2. To pass a [Board resolution] to approve the preliminary expenses incurred for incorporation of the company.
3. To pass a [Board resolution] for the appointment of First Auditors of the company.
4. Inform the Stock Exchange with which shares of the company are listed about the date of this meeting prior to the board meeting. [Clause 19 of the Standard Listing Agreement]
5. Inform the said Stock Exchange within 15 minutes of the board Meeting, of the outcome of the meeting by letter or fax.
6. File a declaration in [ E- form 20] on the stamp paper of requisite value as required the Stamp act of the respective states, with the concerned Registrar of Companies along with the following documents : - Statement in lieu of prospect ( each page should be signed by all the directors of the Company) along with following attached as annexure :
   • Provisions relating to the appointment and remuneration of Managing director, director or manager
   • To approve the preliminary expenses incurred for incorporation of the    company.
   • To appoint the First Auditors of the company.
7. Scan copy E-form no 20 duly executed on Stamp paper.
8. Make the payment of requisite fees prescribed by the Companies[Schedule X of Companies Act] 
9. Fees can be paid through Credit Card / by cash / by cheque in favour of “MCA Collection Account ICICI Bank” at the prescribed rates.
10. ROC will issue a Certificate of Commencement of Business in the name of the company.

 

[Priyanka Jain]

thanxs

AI Summary

Certificate of commencement of business requires board approval, E Form 20 filing, statutory fee payment and ROC issuance.
A public company must secure a Certificate of Commencement of Business by holding a duly noticed Board meeting to approve preliminary incorporation expenses and appoint first auditors, preparing a Statement in lieu of Prospectus and provisions on managerial appointment and remuneration, and filing a declaration in E Form 20 on requisite stamp paper with the Registrar of Companies together with required annexures, a scanned executed form and payment of statutory fees; listed companies must notify the stock exchange of the meeting and its outcome prior to and immediately after the meeting.