The Ministry of Corporate Affairs (MCA) has introduced Form INC-29 to expedite the process of company registration in India. INC-29 is an integrated incorporation form and merges the process of obtaining the Director Identification Number (DIN), Name Approval, and Incorporation application into one single process. It is a single-window clearance for the incorporation of the company. The integration helps in reducing the time taken to start a company in India.
Form INC – 29 is a single online application that can be used, and the company can reserve the name, incorporate the new company, and/or apply for the allotment of DIN. The Form is also accompanied by supporting documents and includes details of Directors & Subscribers, Memorandum of Association (MOA), Articles of Association (AOA), etc. On submission and approval of the Form, the company will be registered. This Form can be used for obtaining DIN for a maximum of three directors.
Who can use Form INC – 29?
The Form can be used by the following companies for registration:
- Private Limited Company
- One Person Company
- Public Limited Company
- Producer Company
How can INC-29 be used for fast track registration of the company?
The following is the procedure for fast track registration of the company using the integrated incorporation Form INC-29.
Step 1 – Obtain Digital Signature
Digital Signature will be required as the company incorporation is now done online. Hence the first step is to obtain the Digital Signature for one of the proposed directors of the Company. Class III Digital Signature will be required for the same. This can be obtained from certifying authorities appointed by the MCA.
To obtain the Digital Signature Certificate (DSC), the Class III DSC application form must be submitted along with a self-attested copy of the PAN card and address proof for resident Indians. NRI’s and foreign nationals would have to get their documents notarised if they reside in a non-Commonwealth country and apostilled if they reside in a Commonwealth country.
Step 2 – Check availability of name of the Company
The name of the company must be carefully chosen and must be in accordance with the guidelines for naming a company as per the Companies Act 2013. Only one name can be given, and if rejected, it will add to the hassle of preparing many incorporation documents once again. The following must be kept in mind while applying for the name using INC – 29:
- Check if the proposed name is in the format that is required as per the Companies Act,2013.
- Confirm if any of the subscribers are carrying on the business in the same name as a Proprietorship or Partnership.
- Check if the proposed company name contains the name of any blood relative.
- Confirm if the proposed name requires any approval from a Sectoral Regulator like RBI/SEBI/Others.
- Check that the proposed company name is not similar or identical to the existing company name or LLP of a foreign company.
- Confirm if the name is not similar to a registered or filed trademark.
Step 3- Drafting of MOA and AOA
On approval of the name by the MCA, further definition of the proposed company will be required by the MCA. These will be provided through the MOA and AOA. Both documents need to be self-attested.
Step 4- Documents to be attached to INC-29
The following documents are required to be prepared/signed by the Directors/ Subscribers and attached to Form INC – 29:
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Affidavit and declaration by First Subscribers and Directors
- Registered Office Address Proof – Rental Agreement/ Sale Deed
- Copy of utility bills which are not older than two months
Step 5 – Filing of INC -29
Form INC- 29 can be prepared as follows:
a) Directors cum Subscribers who have a Director Identification Number (DIN) – If there are Directors cum Subscribers who already possess the DIN, then the same must be inputted in the appropriate field.
b) Directors cum Subscribers who do not have a Director Identification Number (DIN) – In there are no Directors cum Subscribers possessing the DIN, then the DIN application can also be made in the Form INC-29 by submitting the following documents and information:
- Details relating to the person, education, and occupation
- PAN Number in case of Director being an Indian National
- In the case of Foreign National – Passport Number
- The email address of the Director
- Address details of the Director
- Proof of Address – Electricity Bill/Telephone Bill/Mobile Bill/Bank Statement
- Identity Proof – Aadhar card/ Passport/Driving License/ Voters Id.
The form needs to be carefully filled, and the RoC and stamp duty must be paid electronically.
Step 6 – Verification by ROC & Issue of Certificate of Incorporation
The documents will be verified by the ROC. If modifications are required, then the same will be notified. If everything is in order, then the Certificate of Incorporation will be issued within 7 to 8 working days. The Digital Certificate will be mailed to the directors.
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