valid as on 19/12/2024

Section 10.Effect of memorandum and articles.
Effective from 01-04-2014, font in blue w.e.f., 02-11-2018

(1) Subject to the provisions of this Act, the and shall, when registered, bind the and the thereof to the same extent as if they respectively had been signed by the company and by each member, and contained covenants on its and his part to observe all the provisions of the memorandum and of the articles.

(2) All monies payable by any member to the company under the memorandum or articles shall be a debt due from him to the company.

(1) A company incorporated after the commencement of the Companies (Amendment) Act, 2019 and having a share capital shall not commence any business or exercise any borrowing powers unless—

(a) a declaration is filed by a director within a period of of the date of incorporation of the company in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration; and

(b) the company has filed with the Registrar a verification of its registered office as provided in sub-section (2) of section 12.

(2) If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an amount of one lakh rupees.

(3) Where no declaration has been filed with the Registrar under clause (a) of sub-section (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub-section (2), initiate action for the removal of the name of the company from the register of companies under Chapter XVIII

 (1) A company incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless—

(a) a declaration is filed by a director within a period of one hundred and eighty days of the date of incorporation of the company in such form and verified in such manner , with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration; and

(b) the company has filed with the Registrar a verification of its registered office as provided in sub-­section (2) of section 12.

(2) If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an amount of one lakh rupees.

(3) Where no declaration has been filed with the Registrar under clause (a) of sub-section (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub section (2), initiate action for the removal of the name of the company from the register of companies under Chapter XVIII.

2(56) Memorandum means the memorandum of association of a company as originally framed or as altered from time to time in pursuance of any previous company law or of this Act
Articles means the articles of association of a Company  as originally framed or as altered from time to time or applied in pursuance of any previous company law or of this Act
Company means a company incorporated under this Act or under any previous company law
2(55) Member, in relation to a company, means—

(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;

(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;

(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository

Inserted vide the Companies (Amendment) Act, 2019 dated 31.07.2019 w.e.f., 02.11.2018. To view the Amendment Act, Click Here.
An an additional 180 days have been provided for this purpose. To view the relaxation circular dated 24.03.2020, Click Here.
Inserted vide the Companies (Amendment) Ordinance, 2019 which repealed the Companies (Amendment) Ordinance, 2018. W.e.f., 02.11.2018. To view the Ordinance, 2019, Click Here. To view the Ordinance, 2018 Click Here 
Refer rule 23A of the Companies (Incorporation) Rules, 2014. To view the Rule,Click Here

2.1.23-Companies (Incorporation) Rules,2014

23. Intimation to Registrar of revocation of licence issued under section 8.-

Where the licence granted to a company registered under section 8 has been revoked, the company shall apply to the Registrar in  along with the fee to convert its status and change of name accordingly.

The declaration under section 10A by a director shall be in  and shall be filed as provided in the Companies [Registration Offices and Fees) Rules, 2014 and the contents of the said form shall be verified by a company Secretary or a chartered Accountant or a cost Accountant, in practice:

Provided that in the case of a company pursuing objects requiring registration or approval from any sectoral regulators such as the Reserve Bank of India, Securities and Exchange Board of India, etc., the registration or approval, as the case may be from such regulator shall also be obtained and attached with the declaration.

  1. Form INC 20 has been revised vide MCA Notification dated 19.01.2023. To view the Notification, Click here. To view the revised Return, Click here.
  2. To view the return,Click Here
Inserted vide the Companies (Incorporation) Fourth Amendment Rules, 2018 dated 18.12.2018. To view the Notification, Click Here
  1. Form INC 20A has been revised vide MCA Notification dated 19.01.2023. To view the Notification, Click here. To view the revised Return, Click here.
  2. To view the Return, Click Here

Companies (Incorporation) Amendment Rules, 2022 dated 08.04.2022


Companies (Incorporation) Fifth Amendment Rules,2016 dated 29/12/2016


Enforcement Notification S.O. 902(E) dated 26/03/2014


MCA Notification dated 19.01.2023 regarding Companies (Incorporation) Amendment Rules, 2023


The Companies (Amendment) Act, 2019 dated 31.07.2019


The Companies (Amendment) Ordinance, 2018 dated 02.11.2018 [repealed vide the Companies (Amendment) Ordinance, 2019]


The Companies (Amendment) Ordinance, 2019 dated 12.01.2019 w.e.f., 02.11.2018


The Companies (Incorporation) Fourth Amendment Rules, 2018 dated 18.12.2018


MCA Circular dated 24.03.2020 on Special Measures under CA-2013 and LLP Act, 2008 in view of COVID-19 outbreak


Form INC – 20 A for Nidhi Companies notified w.e.f. 08.04.2022


Form INC-20A


Form INC-20A – Substituted vide MCA Notification dated 19.01.2023


Form No. INC 32


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