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COMPANY REGISTRATION

COMPANY REGISTRATION

E Form INC 29 – A FASTER WAY FOR COMPANY REGISTRATION

INTRODUCTION

For the ease of formation of a Company, Ministry of Corporate Affairs has come with many initiatives, and Companies (Incorporation) Amendment Rules, 2015 is also a step taken by it towards simplifying the process for incorporation of a company. Before the Introduction of said rules, there was only one route for incorporation of company which is a very time consuming procedure.

Now after coming into force the Companies (Incorporation) Amendment Rules, 2015 MCA on 01/05/2015 notified a simple and faster procedure for company’s formation in India by introducing an integrated e form INC 29.

PURPOSE

Form INC 29 will provide many services with single application, such as

  • Reservation of name of company
  • Incorporation of company
  • Application for allotment of DIN
  • Appointment of Directors of the proposed company

For the purpose of filing an integrated form, the particulars of maximum three directors shall be allowed to file and allotment of DIN for maximum of three proposed directors shall be permitted in the form.

KEY FEATURES OF THE FORM

  1. This form is available for
  • One person company
  • Private company
  • Public company
  • Producer company
  1. The facility to file integrated application for incorporation in form INC 29 is available as an option to the applicant.
  2. It does away the process involves filling of multiple applications, thus saves time, money and eliminates duplication of work.
  3. This form also avoids the need for reserving a name for company prior to its incorporation.

PROCEDURE FOR INCORPORATION OF COMPANIES – A COMPARISON BETWEEN TWO ROUTES

OLD ROUTE

  • Apply for Digital signature Certificate(DSC)
  • Apply for DIN (By Filing DIR -3)
  • Reservation of name of proposed Company (By filing INC -1)
  • Incorporation of Company (By filing INC – 2 for OPC and INC – 7 for others)
  • Appointment of Directors (By Filing DIR – 12)
  • Notice for Situation of Registered Office (By filing INC – 22)

 

NEW ROUTE (INC 21)

  • Apply for Digital signature Certificate(DSC)
  • Incorporation of Company (Prepare and File INC – 29)

          MANDATORY ATTACHMENTS

  • Memorandum of association;
  • Articles of Association;
  • Affidavit and declaration by first subscriber(s) and director(s);
  • Proof of Office address (Conveyance/ Lease deed/ Rent Agreement etc. along with rent receipts);
  • Copy of the utility bills.

 

POINTS TO REMEMBER

  1. The Fee for the form is Rs. 2000/-
  2. This E –Form is allowed only for two re-submissions, In case of rejection for the third time the fee paid will not be refunded.
  3. DSC of a Director and professional will be affix on the form.
  4. The professional who affixes the signature will be responsible for the details given in the form.
  5. Copy of Utility bills must not be older than two months.
  6. This Form is not available for Section – 8 companies.

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