A newly incorporated entity must start its operations within two years after its establishment.Group of answer choicesFalseTrue

How long from the date of inception will an entity be called as ‘startup’ in India? Up to 5 years Up to 7 years Up to 10 years Up to 12 years

If a corporation does not formally organize and commence its business within five (5) years from the date of its incorporation, its certificate of incorporation shall be deemed revoked as of the day following the end of the five (5) year-period.Group of answer choicesTrueFalse

What will happen if a corporation has commenced its business but subsequently becomes inoperative for a period of at least five (5) consecutive years? (Answer in not more than 5 sentences)

A corporation shall remain as a body corporate for three (3) years after the effective date of dissolution for purposes of liquidation.Group of answer choicesTrueFalse

Discuss the procedure for the incorporation of companies under the Companies Act.