The
Central Government has established a Central Registration Centre (CRC) having
territorial jurisdiction all over India, for discharging or carrying out the
function of processing and disposal of applications for reservation of names
under the provisions of the said Act.
The
CRC shall function under the administrative control of Registrar of Companies,
Delhi (ROC Delhi), who shall act as the Registrar of the CRC until a separate
Registrar is appointed to the CRC.
The
CRC shall process applications for reservation of name i.e., e-Form No. INC-1
filed along with the prescribed fee. The CRC shall function under the
administrative control of Registrar of Companies, Delhi (ROC Delhi), who shall
act as the Registrar of the CRC until a separate Registrar is appointed to the
CRC. Processing and approval of name or
names proposed in e-Form No. INC-29 shall continue to be done by the respective
Registrar of Companies having jurisdiction over incorporation of companies
under the Companies Act, 2013.
Further, in order to facilitate the
incorporation of companies, MCA has amended the Companies (Incorporation) Rules.
Both the circular and the amended rules shall be effective from January 26,
2015.
The Companies Incorporation Amendment Rules,
2016 effective from 26.01.2016 provide a lot of incentive to the companies. The
major amendmentsare given as under:
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S.N.
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As
per Old Rules
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As
per the new Rules
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1
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The company’s namewas required to be on
the same line with the
principal objects of the company, if the name was indicative of an object.
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The name of the company need not be
in the same line with the principal objects of the company even if
the name of the company is indicative of an object.
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2
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Company
names that are vague or an abbreviation (in short form)of a name
which does not provide any significant meaning were not allowed. For
Eg.23K Limited.
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Sub-clause(x)ofclause(b)has been omitted and now,company names in abbreviated form or
having no meaning or significance will be allowed.
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3
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Company
name that intend or could produce a misleading impression regarding
the scope or scale of its activities would not be allowed.
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Sub-clause
(xvii) of clause (b) has been omitted.
Hence, company names that are not in line with its scope or scale of
activities would be allowed
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4.
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Company wasrequiredto change their name if
the company starts the activities which
are not reflected in its names
within the period of six months from thechange of activities.
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Company
can change its activity and continue to operate with the old name,
even if the activities of the company are not in line with the name of
the company.
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5.
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If
a key word of the company name contains the name of a person other than the name
of the promoters or their close blood relatives, then a NOC was required for
such purpose.
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NOC is not
required from any person for using the name of a person in a company name, even if that person is not a promoter or
close blood relative.
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6.
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Up to two times resubmission was allowed for the correction
of any mistake in the incorporation application.
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Now, The
resubmission will be allowed for three times for the correction of mistake
in the incorporation applicationwithin a total period of Thirty days from
first submission
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7.
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An application for the reservation of a name shall be made in
Form No. INC-I along with the fee as
provided in the Companies (Registration offices and fees) Rules, 2014 which may be approved or rejected, as the
case may be, by the Registrar, Central Registration Centre (CRC) (CRC
is separate unit for facilitating incorporation
process and for the approval of incorporation applications. )
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Contributed
by Roshan Paudel ( CA Finalist )
