Failure to File INC 20A.

[VJCPL COMPANY LAW]

Dear All,

One of My Client has Incorporated a Private Limited Company on 10/05/2022,
and has failed to file INC 20A, infact failed to open a Bank Account of the Company.

Now what are all consequences for the same? 

Will Removal of Name by RoC will result in Disqualification of Director?

Also what steps need to be taken in this regard?

With Best Regards,

For Vaibhav Joshi Consultants Pvt. Ltd.

          

Company Law Team

Contact: 8600300305

P  Please do not print this email unless it is absolutely necessary. Make the world a better place.

[Brijesh Sharma]

The penalty of Rs. 50,000/- will be imposed on the corporate in respect of non-filing of the said declaration. Also, each and every officer in default pays a penalty of Rs. 1,000/- The corporate name for each day of default, up to a maximum of Rs. 1,00,000/-.shall even strike off the name of the corporate from the Registrar of Companies if the Registrar has reasonable grounds that the corporate isn't into any business operations even after 180 days of incorporation.

You need to open a Bank account and File INC-20A form with late filing fees. 

[jm sundaram]

Hai,

If a company fails to file INC-20A within 180 days of incorporation, the Registrar of Companies (ROC) may impose penalties and take legal action against the company. The penal provisions for not filing INC-20A are as follows:

1. Penalty: The ROC may impose a penalty of Rs. 50,000 on the company for not filing the form within the due date.

2. Prosecution: The ROC may initiate legal proceedings against the company and its directors for non-compliance with the provisions of the Companies Act, 2013.

3. Inactive Status: If a company fails to file INC-20A, it may be considered as an inactive company by the ROC. An inactive company cannot conduct any business activities or enter into any transactions.

Regenerate response

     Sundaram jm

Company Secretary 

LTG Infrastructure Limited

3,4,5 & 6, LTG Tower, IIIrd floor, BDA Outer ring road,

Near Kempegwoda Nagar arch, Laggere,

Bangalore 560058

Phone: 9845875796

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