MCA is taking steps for simplification of business process in India. MCA has notified the
Companies (Incorporation) Amendment Rules, 2015 which
shall come into force from 1st May, 2015. Following are the relieves given through Amended Rules 2015:-
1.
Verification of
signatures of promoter directors by the professional in Form INC – 10 has done
away with and now Form INC -10 can be filed
Self attested and New Format of INC-10 requires only Photograph of Promoter Director, Name, Father’s name and address of the First
Directors and two specimen signatures only.
2.
An existing Private
Company may get itself converted into OPC only if its paid up capital is less
than Rs. 50 lacs AND average annual
turnover is less than Rs. 2 Crore during the relevant period.
3.
For violation of any
rules by OPC, Penalties are now reduced and Penalties for any offence shall be
Rs. 5000/-in the first instance and if contravention continues then Rs. 500/-
per day till it continues.
An introduction of Integrated single form for incorporation of a company.
MCA has introduced Form 29 from 1st
May, 2015 and has simplified the incorporation process. MCA has released the
New Integrated Form INC-29 in addition
to the existing process of incorporation. INC -29 is a single integrated form
for Incorporation to take care of three separate processes in single form i.e
Application for DIN, Application for name approval and Application for
incorporation of company. This newly Introduced form INC 29 will take care
of allotment of PAN, TAN & ESI for the proposed Company.
MCA has inserted Rule 36 and New Forms INC-30
and INC -31 are introduced to choose the pre-drafted Memorandum of Association and Articles of
Association.
Fee for the E- Form INC -29 is Rs.
2000/- however for Name Application fee for the existing Form is Rs.1000/-
because no separate fee is there for DIN Application if first director or subscriber
is not having DIN. Fee for Incorporation
is to be paid separately and in existing forms too registration fee depends
upon the Authorized capital of the new proposed company.
In existing forms six names options
are given but in NEW INC -29 Form only one name can be applied for approval. Therefore,
Applicant has to ensure that the proposed name is as per name availability
guidelines & existing trade marks to avoid rejection.
Application for DIN is permissible maximum
of three directors through this INC-29 in case first directors or subscribers
are not having DIN as on the date of application for registration. In case
Directors or subscribers are having DIN then there is no requirement of giving
personal details as it already exists in MCA records and DIN number may
pre-fill the details of proposed director having DIN.
In existing forms there is a
requirement of attaching the Scanned copy of Memorandum and Articles of
Association but in this Integrated INC -29
Form -30and Form-31 for pre-drafted memorandum of Association and
Articles of Association are required to
be filled in and there is no need of
scanned copy of MOA and AOA to be
attached.
Incorporation of the company through
this integrated form for incorporation INC-29 is optional and this INC-29 form
is not available for incorporating Section 8 companies. The New INC-29 Form is
running into 15 pages as it looks after the DIN of maximum three Directors and
requires the following as attachments:
Mandatory Attachments to Form INC -29 (Integrated form of
Incorporation)
1.
Pre-drafted
Memorandum of Association as given in Form -30
2.
Pre-drafted Articles
of Association having 91 questions with Yes or No options as given in Form 31
3.
Affidavit and
declaration by First Directors and subscribers.
Other Attachments to Form INC -29 (Integrated form of
Incorporation)
4.
Proof of Office
Address i.e Lease Deed / Rent Agreement
with Rent receipts
5.
Copy of Utility Bill
not older than 2 months
6.
Approval of Owner of
Trademark or applicant of trademark registration
7.
Proof of Relation
8.
NOC from the Sole
Proprietor / Partner/ AOP or Body corporate
9.
NOC from any other
person
10.
Certificate of
Incorporation of the Foreign body corporate and copy of resolution passed
11.
Resolution Passed by
Promoter Company
12.
NOC from existing Indian Company
13.
Interest of First Directors in Other Entities ( No
interest is also a declaration)
14.
Consent of Nominee
15.
Proof of Identity
and residential address of Subscribers,
Nominee & All Applicants
The INC -29 integrated form for
incorporation is a single form and can be resubmitted only for two times so
Subscribers will have to take proper care while filing the forms to avoid loss
of fee submitted while filing the form. INC -29 Form is a single form and if
opted the filing of the following e-forms is not required.
1. Form DIR-3 – if the proposed directors have no DIN still they
need not file an Application for allotment of DIN
2. Form INC-1/INC-2 for
reservation of name of the company where applicant can give six options or
suggested names of the proposed company.
3. Form INC-7 an application
for incorporation of a company other than One person company
4. Form DIR-12 Appointment of Directors
5. Form INC-22 an
information for the registered office
However it is optional for the
subscribers to opt for INC -29 or other Forms DIR-3, INC-1/ INC-2, INC-7, DIR-12,
INC-22 and because INC -29 is not available
for incorporation of Section 8 Companies all the forms will be available at MCA website.
