What are the Consequences of Issue of Commencement of Business?? In which circumstances, a new Certificate of Commencement of Business is issued??
A Company which incorporated and has already got a Certificate of Commencement of Business, and not started its business within one year from obtaining both the Certificates, is required to file Form 20 again and to get new Certificate of Commencement of Business?
A public Co. is compulsory required to obtain Certificate of Commencement (CoC) of business . Without obtaining this certificate a public Co. can,t start/commence its business.
If Company not started its business within one year from obtaining the Certificates of incoporation It may be wound up by Court (u/s Section 433) This one year shall be computed from the date of obtaining certificate of Incoporation.
Certificate of commencement of business is issued once in thelife time of a comany.
Once certificate of commencement of business issued, it is the obligation on the co. to start the same however it can susapend it for a further period of one year by necessary the approval.
Agree with the details and law mentioned by Nidhi ji...
Agree with nidhi except "however it can susapend it for a further period of one year by necessary the approval.".
No approval necessary from anybody. Incase RoC issued letter for wind up, u need to clarify at that time.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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