In order to give ease to the corporate world to carry business in India, the Ministry of Corporate Affairs has been simplifying the procedures

By on 13-11-2018

COMPANY REGISTRATION WILL BE MADE EASY AND FAST WITH THE IMPLEMENTATION OF INTEGRATED FORM FOR INCORPORATION

In order to give ease to the corporate world to carry business in India, the Ministry of Corporate Affairs has been simplifying the procedures under the Companies Ac t, 2013. As another step in this direction, the Ministry is modifying the incorporation procedures to enable promoters to get their companies incorporated online within 24 hours.

 Now, the Ministry is also simplifying the procedures to have a single incorporation applications form. Ministry of Corporate affairs will release form INC-29 for this purpose. In this form we apply for DIN, Name, and Incorporation.

some of the features of eForm INC29 are as under:

• eForm INC29 integrates Name Approval (eForm INC1), DIN Application (eForm DIR3) and Incorporation of a Company (INC-7). However, this is an optional form; promoter can still file separate forms for incorporation.
• Only 1 name can be proposed in this form.
• Since it’s a new form, a separate platform will be created at the ROC Back office, where only eForm INC29 will be processed, so that Companies can be incorporated in 1 day.
• Registration fee is Rs. 2,000 + other fees will depent upon capital of the company
• With a target to reduce duplication of attachments, attachments/declaration/proof etc. required for Name Approval, Incorporation and DIN will be required for eForm No.29.
• Since, the form is undertaking 3 different forms, it would be duty of Applicant to ensure the quality of content submitted as re-submission would be onerous process.
• Companies with charitable object (Section 8 Companies) cannot avail the facility of the Form INC29.
• In case the form is rejected, refund needs to be applied through Refund Form.
• Requirement with respect to Certificate of Commencement of Business will continue.