Friday, May 1, 2015

Integrated Form for Company Incorporation

The Ministry of Corporate Affairs (MCA) has with effect from today prescribed a new Form INC-29 for incorporation of companies, and it integrates several requirements that were earlier required to be filed separately. The integrated form as well as an instruction kit can be accessed on MCA’s website (here).

The purpose for the form has been stated as follows:

EForm INC-29 deals with the single application for reservation of name, incorporation of a new company and/or application for allotment of DIN. This eForm is accompanied by supporting documents including details of Directors & subscribers, MoA and AoA etc. Once the eForm is processed and found complete, company would registered and CIN would be allocated. Also DINs gets issued to the proposed Directors who do not have a valid DIN. Maximum three Directors are allowed for using this integrated form for allotment of DIN while incorporating a company.

This development is expected to considerably speed up the process for incorporation of companies, and generally enhance the ease of doing business in India.

In a similar vein, is has been reported that the Cabinet has approved amendments to the Companies (Amendment) Bill, 2014 to ease certain formalities for incorporation (here and here).

Update – May 4, 2015: The Companies (Incorporation) Amendment Rules, 2015, which introduce the new forms are available here.

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