https://www.taxtmi.com/acts?id=32621 Companies with share capital cannot commence business or exercise borrowing powers until a director files a prescribed, verified declaration within the initial post incorporation period confirming subscribers have paid for their shares, and until the company files verification of its registered office; non compliance attracts penalties on the company and officers and permits the Registrar to initiate name removal proceedings where no declaration is filed and the Registrar reasonably believes the company is not carrying on business. en-us Sat, 03 Nov 2018 14:31:12 +0530 Mon, 14 Jan 2019 15:29:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32621 Companies with share capital cannot commence business or exercise borrowing powers until a director files a prescribed, verified declaration within the initial post incorporation period confirming subscribers have paid for their shares, and until the company files verification of its registered office; non compliance attracts penalties on the company and officers and permits the Registrar to initiate name removal proceedings where no declaration is filed and the Registrar reasonably believes the company is not carrying on business. Act-Rules F. Acts / Amendment Acts Sat, 03 Nov 2018 14:31:12 +0530 https://www.taxtmi.com/acts?id=32621