The Ministry of Corporate Affairs (MCA) has introduced Form INC-29 – Integrated Incorporation Form in order to reduce the overall time in company Incorporation. In Form INC-29 all the steps of company incorporation have merged in single form i.e. the process of getting Director Identification Number (DIN) (E-Form DIR-3), Name Approval appointment of Director(E- Form DIR-12), Registered office of the Company (E- Form INC-22) and Incorporation(E-Form INC-7). After processing of completely filled E-Form company would registered and Certificate of Incorporation issued to the newly incorporated Company. DIN got allotted to the proposed Directors not having a valid DIN.
Sections and Rules Involved: sections 4,7,12,152 and 153 of the Companies Act, 2013 read with Companies (Incorporation) Amendment Rules, 2015
Applicability of Integrated Process via E-form INC-29: INC-29 is available for filing with effect from 01/05/2015, The Facility to file Integrated application for Incorporation in INC-29 is Optional till now.
Normal Time Limit Involved: 1 to 2 Days
Filing Fees: In addition to the Registration Fee specified in Companies (Registration of offices and Fees) Rules, 2014 Filing fee of E-form INC-29 is Two Thousand Rupees.
Risk Involved: The professional who affixes the signature will be responsible for the details given in the form.
Scope of E-form INC-29: The following types of companies can be registered:
i. One Person Company
ii. Private Limited Company
iii. Public Limited Company
iv. Producer Company
Procedure for Fast Track Company Registration using Form INC-29
Obtain Digital Signature:
To file Form INC-29, the digital signature of one of the Directors will be required. Hence, Digital Signature must be obtained for one of the proposed Directors of the Company. Class 2 Digital Signature will be required for filing form INC-29.
Preparation of Incorporation Documents to be attached with Form INC-29
The following incorporation documents must be prepared, signed by the Directors/Subscribers and attached with Form INC-29.
1. Memorandum of Association (MOA)
2. Articles of Association (AOA)
3. Affidavit and declaration by first Subscribers and Directors.
4. Proof for Registered Office Address. – Rental Agreement / Sale Deed.
5. Copies of utility bill of the registered office address that are not older than 2 months.
6. If the proposed company name is a filed or registered trademark, then NOC from the trademark applicant or owner must be attached.
In addition to the above documents, additional documents may have to be attached on a case to case basis.
Prepare Form INC-29:
Along with the application for Digital Signature Certificate, Form INC-29 can also be prepared as follows:
Director cum Subscribers having DIN
In case there is any Director cum Subscriber who already possess DIN, then the DIN of the person can be entered in the appropriate field.
Directors cum Subscribers NOT having DIN
In case there is any Director cum Subscriber who does not have DIN, then the DIN application can be made in the Form INC-29 itself by submitting the following information and documents:
1. Personal Details, Occupational Details and Educational Qualification
2. PAN – In case of Indian National
3. Passport Number – In case of Foreign National
4. Email Address of the Director
5. Address information of the Director
6. Proof of Identity – Voters ID Card / Drivers License / Passport / Aadhar Card
7. Proof of Address – Bank Statement / Electricity Bill / Telephone Bill / Mobile Bill
Company can be incorporated with Maximum 3 directors using this integrated form.
Name for the Company
Only one name can be provided while using INC Form 29. Therefore, it is important that the name provided be strictly in accordance with the Guidelines for Naming a Company, as per Companies Act, 2013. In case the proposed name is not accepted while using Form INC-29, then the application would be rejected and many of the incorporation documents would have to be freshly prepared.
After Filing of E-Form INC-29:
Time available for Resubmission of E-Form INC-29 ,if any, additional information called for or any defect is found is 15 days from the date of additional information sought for or intimation of defect.
After Resubmission of the E-Form, if Registrar still sought for any additional information one more opportunity of 15 days available with the user for filing.
After Two Opportunities E-Form INC-29 of the proposed company shall be rejected.
Certificate of Incorporation Issued:
Once the Registrar of companies satisfied, Certificate of Incorporation is issued to the Newly Incorporated Company.
CS MANSI AGARWAL
Tags :Corporate Law