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If Bank Account not opened within 30 days


keshav (Student of CA Final)     10 August 2020

keshav
Student of CA Final 
 1 likes  32 points

| My Other Post

due to lockdown, newly incorporated company not able to open the bank account within 30 days , but 1st BM was duly conducted, is there any penalty provision for the same ??

pls expalin

avater

Asha Kanta Sharma (Manager - Finance & Accounts)     10 August 2020

Asha Kanta Sharma
Manager - Finance & Accounts 
 146 likes  6435 points

View Profile | My Other Post

I do not see any penalty for the same.

avater

c.bakshi (practising company secretary)     10 August 2020

c.bakshi
practising company secretary 
 108 likes  3152 points

View Profile | My Other Post

You have to report registered office within period of 30 days. but for commencement of business 180 days from the date of incorporation.


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