Commencement of Business, Section 11 of Indian Companies Act 2013

 

 

Section 11 Commencement of Business etc- Indian Companies Act 2013

Section 11 of Indian Companies Act 2013 has provision related to the commencement of business. Provision in the Indian Companies Act 2013 regarding Commencement of Business is as under.

(1) A company having a share capital shall not commence any business or exercise any borrowing powers unless—


(a) a declaration is filed by a director in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has
paid the value of the shares agreed to be taken by him and the paid-up share capital of the company is not less than five lakh rupees in case of a public company and not less than one lakh rupees in case of a private company on the date of making of this declaration; and


(b) the company has filed with the Registrar a verification of its registered office as provided in sub-section (2) of section 12.


(2) If any default is made in complying with the requirements of this section, the company shall be liable to a penalty which may extend to five thousand rupees and every officer who is in default shall be punishable with fine which may extend to one thousand rupees for every day during which the default continues.


(3) Where no declaration has been filed with the Registrar under clause (a) of subsection (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub-section (2), initiate action for the removal of the name of the company from the register of companies under Chapter XVIII.

 

Section 3 to 20 of Indian Companies Act 2013

How to form a Company under Indian Companies Act 2013. What are the types of companies? Section 3 Formation of Company

What is memorandum of Company? What are the requirement under section 4 of Indian Companies Act 2013 in case of Memorandum of a Company? How to prepare Memorandum of a Company

What is Articles of Association of Company? What are the requirement under section 5 of Indian Companies Act 2013 in case of Articles of a Company? How to prepare Articles of a Company?

What is Act to override Memorandum and Articles of Association of Company? What is the provisions under Section 6 of Indian Companies Act 2013?

How to Incorporate a Company under Section 7 of Indian Companies Act 2013? What are the requirements to form a Company? How to Incorporate a Company?

What is Charitable Companies? How to form a Charitable Company under Section 8 of Indian Companies Act 2013? What are the requirements to form a Charitable Company?

What is effect of Registration under Section 9 of Indian Companies Act, 2013? What is effect of memorandum? What is effect of Memorandum and Articles under Section 10 of Indian Companies Act 2013?

Commencement of Business, Section 11 of Indian Companies Act 2013

What are the provisions under Section 12 of Indian Companies Act 2013 regarding Registered office of a Company? What are the penalty provisions for violation of law?

How to alter Memorandum of a Company? Section 13 of Indian Companies Act 2013 regarding changes in the memorandum of  Company

How to alter Articles of a Company? Section 14 of Indian Companies Act 2013 regarding changes in the Articles of  Company

Alteration of Memorandum and Articles to be noted in every copy. Section 15 of Indian Companies Act 2013

How to Rectify the name of a Company? Section 16 of Indian Companies Act 2013

Is it necessary to give copy of Memorandum, Articles etc to members? Penalty in case of default. Section 17 of Indian Companies Act 2013

How to convert a Registered Company? Section 18 of Indian Companies Act 2013. Conversion of Companies already registered. Procedure and Documentation

Can subsidiary company hold shares of holding Company? Section 19 of Indian Companies Act 2013. Subsidiary Company not to hold shares of its holding Company

How to serve documents to a company or its officer? What are the accepted methods? Section 20 of Indian Companies Act 2013 Service of documents

 

 

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