REGISTRATION OF A COMPANY BY FILING JUST ONE FORM – OFFICIAL AMENDMENTS IN THE COMPANIES (AMENDMENT) BILL, 2014 ( INC-29: STARTING MAY 2015,)
REGISTRATION OF A COMPANY BY FILING JUST ONE FORM – OFFICIAL AMENDMENTS IN THE COMPANIES (AMENDMENT) BILL, 2014 ( INC-29: STARTING MAY 2015)
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :-
- Doing away with the requirement for filing a declaration by a company before commencement of business or exercising its borrowing powers and
- rationalizing the procedure for laying draft notifications granting exemptions to various classes of companies or modifying provisions of the Act in Parliament, in order to ensure speedier issue of final notifications.
These Official Amendments will address issues related to ease of doing business and put in place a speedier process for approval of draft notifications for providing exemptions etc. from specific provisions of the Act to a class of companies.
INC-29: Starting May 2015, Registration of a company by filing just one form.
As one of the biggest reform in the process of setting up company in India, MCA recently in its webcast announced the introduction of a new e-form INC-29, for filing application for registering a company. So now instead of filing e-forms DIN-3, INC-1, INC-7/2, INC-22 & DIR-12, we can only file form INC-29. It is a single form in place of 5 forms. The e-form is scheduled to be introduced w.e.f 1st May 2015.
It is to be noted that with the introduction of INC-29, the existing e-forms i.e. DIN-3, INC-1, INC-7/2, INC-22, DIR-12, will continue to function as it is. The single form facility will be in addition to the current process of registering a company.
Apart from e-form 29, MCA is also going to introduce e-form 30 & 31 for filing Memorandum of Association & Articles of Association.
So now a company can be registered in the following 2 ways:
1st Option- the regular route: | 2nd option- the faster route |
Filings:
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Filings:
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