Introduction
MCA has issued Companies (Incorporation) Third Amendment Rules, 2020. MCA issued this notification on 24th December 2020.
MCA has introduced Rule 9A i.e. Extension of Reservation of Name in certain cases.
Applicability
This rule shall come into force from 26th January 2021.
Present Provision
As per the provision of the Companies Act, 2013 the name reserved for the incorporation of the company shall be reserved for a maximum of 20 days. If a company has not been incorporated within 20 days then the name shall expire.
Amended Provision
Upon payment of fees provided below through the web service available at www.mca.gov.in, the registrar shall extend the period of a name reserved under Rule 9 through SPICE+ up to:
|
Sr. No. |
Number Of Days |
Fees |
Condition |
|
1 |
40 days from the date of Approval Of Name |
Rs. 1000 |
Payment needs to be made before the expiry of 20 days from the date of approval of the name |
|
2 |
60 days from the date of Approval Of Name |
Rs. 2000 |
Payment needs to be made before the expiry of 40 days from the date of approval of the name |
|
3 |
60 days from the date of Approval Of Name |
Rs. 3000 |
Payment needs to be made before the expiry of 20 days from the date of approval of the name |
Conclusion
Ministry has given this relaxation to use reserved name up to 60 days from the date of approval of name instead of 20 days from the date of approval of name on payment of specific fees.
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