Incorporation Of New Company under companies act 2013 - Commencement of Business



Posted on 28-03-2016        By ADMIN



STEP-8 Incorporation Of New Company under companies act 2013 -   Commencement of Business

8. Commencement of Business

According to S.11 of the Companies Act, 2013. – Companyhaving a share capital shall not commence any business or exercise anyborrowing power unless- Director should file Declaration with Registrar in FormNo. INC.21 [Rule 24] in such a manner as may be prescribed, with the Registrarthat every subscriber to the memorandum has paid the value of the shares agreedto be taken by him and the paid up capital is not less than 5 Lakh Rupees incase of Public Company and not less than One Lakh in case of Private Company.

According to [Rule-24] the declaration filed by a director shall be in FormNo.INC.21 along with the fee as Nominal Share Capital Fee applicable-

 

S.No.-

Nominal Share Capital

Fee Applicable

1)

Less than Rs.1,00,000/-

Rs.200\-

2)

Rs.1,00,000 to Rs.4,99,999

Rs.300\-

3)

Rs.5,00,000 to Rs.24,99,999

Rs.400\-

4)

Rs.25, 00,000 to Rs.99,99,999.

Rs.500\-

5)

Rs.1,00,00,000 or more

Rs.600\-

and the contents of the form shall be verifiedby a Company Secretary in practice or a Chartered Accountant or a CostAccountant in practice: Provided that in the case of a company requiringregistration from sectorial regulators such as Reserve Bank of India,Securities and Exchange Board of India etc., the approval from such regulatorshall be required.




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