payable in cash have been subscribed for and allotted up to the minimum subscription mentioned in the prospectus; . A declaration that every director has paid in cash, the application and allotment money on his shares in the same proportion as others; . A declaration that no money is payable or liable to become payable to the applicants because of the failure of the company to either apply for or obtain permission to deal in its securities on a stock exchange; and . A statutory declaration that the above requirements have been complied with.
This declaration can be signed by a director or secretary of the company. A public company raising funds privately, which has earlier filed a Statement in lieu of prospectus, has to submit only documents and listed above. The Registrar shall examine these documents. If these are found satisfactory, a ‘Certificate of Commencement of Business’ will be issued.
This certificate is conclusive evidence that the company is entitled to do business. With the grant of this certificate the formation of a public company is complete and the company can legally start doing business. Certificate of commencement of Business (Specimen) I hereby certify that ........................ ltd.
of ......................... which was incorporated under The Companies Act, , on the ................ day of .................... ..........
and which has this day filed a statutory declaration in the prescribed form that the conditions of section have been complied with, is entitled to commence business. Given under my hand at ........................... this day of .................. two thousand ..................