https://www.taxtmi.com/article/detailed?id=8369 A company having share capital shall not commence business or exercise borrowing powers until a director files the prescribed declaration under Section 10A in Form INC-20A, verifying that every subscriber has paid for shares and that the company has filed verification of its registered office. Rule 23A requires the form to be certified by a practicing Company Secretary, Chartered Accountant, or Cost Accountant, and sectoral approvals must be attached where applicable. Specified penalties apply for defaults and false statements, and the Registrar may initiate removal proceedings if no declaration is filed and the company appears inactive. en-us Thu, 07 Feb 2019 07:43:28 +0530 Thu, 07 Feb 2019 07:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8369 A company having share capital shall not commence business or exercise borrowing powers until a director files the prescribed declaration under Section 10A in Form INC-20A, verifying that every subscriber has paid for shares and that the company has filed verification of its registered office. Rule 23A requires the form to be certified by a practicing Company Secretary, Chartered Accountant, or Cost Accountant, and sectoral approvals must be attached where applicable. Specified penalties apply for defaults and false statements, and the Registrar may initiate removal proceedings if no declaration is filed and the company appears inactive. Articles Corporate Laws / IBC / SEBI Thu, 07 Feb 2019 07:43:28 +0530 https://www.taxtmi.com/article/detailed?id=8369