https://www.taxtmi.com/acts?id=35017 Companies with share capital may not commence business or exercise borrowing powers unless a director files a prescribed declaration within one hundred and eighty days confirming subscribers have paid for their shares and the company files verification of its registered office under section 12(2); noncompliance attracts a statutory penalty on the company and daily penalties on defaulting officers and permits the Registrar to initiate removal of the company's name if the company appears inactive. en-us Mon, 14 Jan 2019 14:07:24 +0530 Fri, 02 Aug 2019 11:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=35017 Companies with share capital may not commence business or exercise borrowing powers unless a director files a prescribed declaration within one hundred and eighty days confirming subscribers have paid for their shares and the company files verification of its registered office under section 12(2); noncompliance attracts a statutory penalty on the company and daily penalties on defaulting officers and permits the Registrar to initiate removal of the company's name if the company appears inactive. Act-Rules F. Acts / Amendment Acts Mon, 14 Jan 2019 14:07:24 +0530 https://www.taxtmi.com/acts?id=35017