Tuesday, May 5, 2015

MCA simplifies incorporation process; releases new integrated Form INC-29 for Cos applying for incorporation

With a view to simplify the process of incorporation of a company, MCA has introduced new ‘Integrated Incorporation Form – INC.29’ which is effective from 01.05.2015. Form No. INC.29 is a single integrated from for incorporating a company. Form No. INC. 29 comprises of three separate segments namely, 1) Application for allotment of DIN; 2) Application for reservation of Name, 3) Application for incorporation of Company. The key features of Form No.INC.29 are as follows:

a)Now, applicant of the proposed company can propose only one name for approval in this e-form.

b)Application for DIN is permissible upto 3 directors through this INC-29. Personal details in relation to the director or subscriber is not required in case director/subscriber already has DIN. Scanned copy of Memorandum and Articles of Association need to be attached with the form.

c)There will be an additional Fee for the form is Rs. 2000/- in addition to the normal registration fee.

d)Facility for using ‘integrated form’ is not available for incorporating Section 8 companies.

Introduction of this new form has resulted in doing away with filing of the following e-forms:

1.Form DIR-3 (Application for allotment of DIN in case proposed Directors have no DIN)

2.Form INC-1/INC-2 (Application for Reservation of name)

3.Form INC-7 (Application for incorporation of a company other than OPC)

4.Form DIR-12 (Details of Directors)

5.Form INC-22 (Details of registered office) (Optional at the time of incorporation)

However, it is to be noted that the facility to file single integrated application form for incorporation in Form No INC.29 is optional. If any stakeholder wants to avail the existing process for incorporating company he may use aforesaid forms instead of filing single integrated form.