Companies incorporated after the Companies (Amendment) Ordinance, 2019, must file e-Form 20A with the Registrar of Companies (ROC) within 180 days of incorporation. This declaration confirms that all subscribers to the Memorandum of Association have paid for their shares. Additionally, a verification of the registered office (e-Form 22) must be filed. Business activities cannot commence until these forms are submitted. Failure to comply can result in penalties for the company and its officers, and the ROC may even initiate the removal of the company's name from the register.
As per Section 10A Sub-Section (1) every Company incorporated after the commencement of the Companies (Amendment) Ordinance, 2019 and having a share capital shall not commence any business or exercise any borrowing power unless-
A declaration is filed by a director within the period of 180
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