Dear Sir/Mam
I want to know complete process step wise of how to obtain certificate of commencement of business.
Thanxs
Priyanka Jain
Certificate of Commencement of Business (Section 149)
A Public company cannot start its business unless it gets a certificate of commencement of business (COB) from the Registrar of companies.
- Convene Board Meeting after giving notice to all the directors [Section 286] to discuss besides others the following matters.
- To pass a [Board resolution] to approve the preliminary expenses incurred for incorporation of the company.
- To pass a [Board resolution] for the appointment of First Auditors of the company.
- Inform the Stock Exchange with which shares of the company are listed about the date of this meeting prior to the board meeting. [Clause 19 of the Standard Listing Agreement]
- Inform the said Stock Exchange within 15 minutes of the board Meeting, of the outcome of the meeting by letter or fax.
- File a declaration in [ E- form 20] on the stamp paper of requisite value as required the Stamp act of the respective states, with the concerned Registrar of Companies along with the following documents : - Statement in lieu of prospect ( each page should be signed by all the directors of the Company) along with following attached as annexure :
- Provisions relating to the appointment and remuneration of Managing director, director or manager
- To approve the preliminary expenses incurred for incorporation of the company.
- To appoint the First Auditors of the company.
- Scan copy E-form no 20 duly executed on Stamp paper.
- Make the payment of requisite fees prescribed by the Companies[Schedule X of Companies Act]
- Fees can be paid through Credit Card / by cash / by cheque in favour of “MCA Collection Account ICICI Bank” at the prescribed rates.
- ROC will issue a Certificate of Commencement of Business in the name of the company.
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