Consequences for non compliance of a company

[Quickrider811]

Q

Quickrider811
PARTICIPANT
April 20, 2025 at 9:45 pm

Me and my friend have planned to start a company and received incorporation documents. But we are yet to open a bank account for COB and my friend is not serious about it. Since l’m outside of india I am not able to open the bank account from abroad.

Now, what are the consequences if we are unable to open a bank account and complete other legal stuff before 180 days of incorporation?

If there are penalties involved, how does the government will make us pay?

And how does it affect me now or in future?

P.s: thanks in advance

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[Silentrajnish997]

S

Silentrajnish997
PARTICIPANT
April 21, 2025 at 2:45 am

Lots of penalties. Consult a lawyer

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