The business cannot be started immediately after receiving the COI. The business has to apply for a certificate of commencement within 180 days of the COI stating that all the subscribers have paid the subscription money through Form INC-20A.
source https://www.caclubindia.com/articles/procedure-of-incorporation-of-public-limited-company-46955.asp
source https://www.caclubindia.com/articles/procedure-of-incorporation-of-public-limited-company-46955.asp
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