Form INC-20A (Commencement of Business) (INC-20A) — Glossary

◈Definition

Form INC-20A is a declaration filed by a newly incorporated company certifying that the subscribers to the MOA have paid the value of the shares they agreed to take, and that the company's registered office is verified. It must be filed within 180 days of incorporation. Until INC-20A is filed, the company cannot commence business or exercise borrowing powers. Non-filing can lead to strike-off action by the ROC under Section 248(2).

◉See also

Memorandum of Association(MOA)
The constitutional document defining a company's name, objects, registered office state, and capital.
Strike-off
The removal of a company's name from the Register of Companies.
Paid-up Capital
The amount of share capital actually subscribed and paid by shareholders.

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