Under Section 10A of the Companies Act 2013, every company incorporated on or after November 2, 2018, having share capital must file Form INC-20A with the Registrar of Companies (ROC) within 180 days of incorporation before commencing any business operations or exercising borrowing powers.

Core Prerequisites Before Filing INC-20A

  1. Current Bank Account Opening: Open the corporate bank current account in the company's registered name.
  2. Capital Subscription Deposit: Each subscriber/founder named in the MOA must deposit their committed paid-up capital into the company bank account.
  3. Bank Statement Proof: Obtain bank statements showing proof of capital deposit by shareholders.
  4. Registered Office Verification: Upload geotagged photographs of the registered office showing external signboards with Company Name and CIN.

Penalties for Non-Compliance

• Company Penalty: ₹50,000 flat fine.
• Directors Penalty: ₹1,000/day per director up to a maximum of ₹1,00,000 per officer in default.
• Strike-Off Risk: ROC is empowered to initiate strike-off proceedings (removal of company name) if INC-20A is not filed within 180 days.