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
2 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36398 Points)
Replied 10 August 2020
I do not see any penalty for the same.
c.bakshi
(practising company secretary)
(3221 Points)
Replied 10 August 2020
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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