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If Bank Account not opened within 30 days

keshav (Student of CA Final)     10 August 2020

Student of CA Final 
 1 likes  32 points

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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


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

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

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I do not see any penalty for the same.


c.bakshi (practising company secretary)     10 August 2020

practising company secretary 
 108 likes  3152 points

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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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