Incorporation of private limited company

CS Ramanuj Asawa (Company Secretary) (141 Points)

18 May 2013  
In reply to the papers filed for incorporation of a private limited company I got this message from RoC Mumbai (MCA): "...... Sent for resubmission with the following remarks- Pl. submit Declaration/Affidavits from Subscribers/first directors first at the time of incorporation and from directors, to the effect that company/directors shall not accept deposits unless it complies with the applicable provisions of Companies Act, 1856, RBI Act, 1934 and SEBI Act, 1992 and rules/directions/regulations made there under." Can anyone throw light why this declaration/ affidavit needed. Under what provision of the Companies Act, 1956 this is warranted. See the language. I am not able to understand whether there are two declaration affidavits (i) one at the time of Inc and another (ii) After inc. The person who typed message doesn't know if it is 1956 or 1856. How can one act on this type of reckless message. It is a pity the Govt wants everything in order from professionals and companies and their own staff can barely write simple English. Experts are requested to help me. To me it is an arm twisting exercise to get some bucks.