INC20A Form Do we need to re-fill

[Sarika Jain]

Hi Team,

A private limited company filled the INC 20A form within 180 days of incorporation.

Now company received the NBFC license.

Do we need to re-fill the INC 20A Form even if there is no change in business submitted earlier?

Regards

Sarika Jain

[SURENDER HARSH]

No, the private limited company does not need to re-file the INC-20A (Declaration for Commencement of Business) even after receiving an NBFC license, provided there is no change in the business activities declared earlier in the INC-20A form.

Key Points:

1. Purpose of INC-20A: This form is filed to declare that the company has commenced its business or is carrying on its operations. It is a one-time compliance filed within 180 days of incorporation.

2. No Change in Business Activities: If the business activities stated in the initial INC-20A filing align with the activities under the NBFC license, there is no need to re-submit the form.

3. Update to Statutory Authorities:

   • While INC-20A is not required again, the company should ensure that its MCA filings and records accurately reflect the business activity under the NBFC license.
   • If the NBFC operations result in changes to the objects clause of the Memorandum of Association (MOA) or require any other regulatory update, those changes should be communicated through appropriate filings (e.g., MGT-14 for changes in MOA).

4. Additional Compliance for NBFC: Ensure compliance with RBI requirements for NBFCs, including registration, regular filings, and adherence to applicable regulations under the RBI Act.

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Thanks & Regards 

CS SURENDER KUMAR HARSH 

FCS, MBA (FINANCE), DLM, DIM, M.COM. ,TRADEMARK ATTORNEY,

S.K.HARSH & ASSOCIATES (UNIQUE ID - (S2014RJ2642000)

COMPANY SECRETARY IN PRACTICE  (F10229)

(PEER REVIEWED FIRM( PRC NO. 2691/2022)

Past Chairman Bikaner Chapter NIRC of ICSI

IST FLOOR VED MARKET RANI BAZAAR, 

BIKANER RAJASTHAN-334001

98291-61417, 85030-11417 

Email id :- cssk...@gmail.com, pcs.s...@gmail.com

Web :www.skharshassociates.com

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