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Delay in filing INC-20A beyond a year

262 views 1 replies

Chandan

21 Points Joined March 2020

Dear professional colleagues,

A private limited company incorporated in February 2021 has not filed Form INC-20A yet. As per my understanding, the penalty (besides the additional fees) is 50K for the company and 1 Lakh for director.

The company does not have bank account and business is not being carried out. Company does not own any assets.

If I file INC-20A now, will the penalty be imposed? Company is presently in Active status for e-filing as per MCA master data.

Thank you very much for your time,
Chandan

Replies (1)

Guest

You mention that "The company does not have bank account and business is not being carried out. Company does not own any assets."

Then how will you file INC-20A which requires proof of subscribers paying what was agreed by them at the time of incorporation?

Either open a bank account and try filing INC-20A or close the company with STK-2 as not even basic formalities required for a business have been done yet.