Amendments in Company Incorporation Process

Traveling through the Companies Act,1956 to the Companies Act,2003, there has been a massive change in the entire process of company incorporation in India. There have been innumerable amendments in company incorporation process been made in approximately last four years.
To have a broader idea its mandatory to mark the timeline of Major Amendments in Company Incorporation Process from 1 April 2014 till 1 March 2018.
Ministry of Corporate Affairs (MCA) has introduced new e-forms for company registration in India based on the Companies Act, 2013. Discussed below is the list of sample forms along with their descriptions.
It is requested that these company incorporation forms are only the samples and not the original forms.
Kindly use them as reference only.
DateThe Journey So Far
01.04.2014 TO 30.04.2015Introduction of New forms for Incorporation Company i.e.
INC-1 – Name Approval;
DIR-3 – Director Identification Number
INC-7 – Incorporation of Company
DIR-12 – Appointment of Directors
INC-22 – Registered Office of CompanyAll the above-mentioned forms were required to be filed for Company Incorporation
01.05.2015 TO 30.09.2016

Integrated Incorporation Process in form INC-29. This form was 5 in one form. The company could apply Director Identification Number (DIN), Name, Appointment of Director, Registered Office and Incorporation in single form with economical ROC Fees. Still, INC-29 possessed some restrictions like if Company filed INC-1 for proposal 0f name then it was not possible for the Company to file INC-29.

Note – The route of INC-7 that is mentioned above was also available.

01.10.2016 TO 26.01.2018

Through Companies Incorporation Fourth Amendment Rules, 2016 a new form “SPICe (Specified Performa for Incorporation Company Electronically)” i.e. INC-32. This form is one step ahead to INC-29.

For e.g. – Electronic MOA & AOA were introduced in this Form.

However, Company has both the ways,  they can either apply name in SPICe or apply name in INC-1 and then file Spice. PAN & TAN application has become a mandatory as part of the SPICe Form.

Note – The above-mentioned route of INC-7 is also available for some specific purposes.

26.01.2018This date is considered revolutionary in the History of Companies Act for the purpose of Ease of Doing Business. The alteration made by Central Government for the same purpose is the new process for Name Approval i.e. “RUN” is notified and the INC-1 e-form is omitted.
Form INC-7 has been omitted. Currently, The only way for the incorporation of a company is through SPICe.
No ROC fees for Company Incorporation up to 10 lack of authorized capital.
An updated version of SPICe Form has been notified.
Another Alteration

Except for the above-mentioned amendment some other amendments have been made between 1 April 2014 till 1 March 2018

For e.g. –

  • No Requirement of Minimum Paid up share Capital.
  • No requirement of DIN at the time of Private Limited Company Registration.
  • Only one form for Incorporation of Company.
  • Availability of e-MOA & e-AOA

Step-wise Current Process of Company Incorporation

STEP-I: Apply for Name Approval

(A) Login on MCA Website

Applicant has to login into their account on the MCA Website.

The Pre-existing users can use the earlier created account but the new users have to create a new account.

After Login, the users have to click on the icon “RUN” on the MCA Service portal. An online form shall open. Applicants have to fill the information online as the form cannot be downloaded.

Note: Since 26th January 2018 e-form INC-1 has been omitted from the Companies Act, 2013.

(B) The details required to be filled in the online form:

Entity type (i.e. Part I, OPC, Section 8 etc.)

Entity TypeSuffix AllowedExample
New Company (Others)/Part I CompanyLimited/Private LimitedKCPC LimitedKCPC Private Limited
Producer CompanyProducer Company LimitedKCPC Producer Company Limited
Unlimited CompanyUnlimited CompanyKCPC Unlimited Company
Private (OPC)(One Person Company) Private LimitedKCPC (OPC) Private Limited
IFSC Company(IFSC) Limited/ (IFSC) Private Limited/ IFSC Limited/IFSC Private LimitedKC (IFSC) Limited/ PC (IFSC) Private Limited/ SC IFSC Limited/DC IFSC Private Limited
Section 8 CompanyOther than” Limited/Private Limited/(OPC) Private LimitedSPC Electoral Trust
Nidhi CompanyNidhi LimitedPCC Nidhi Limited
  • CIN (Corporate Identification Number): It has to be entered only when an existing company wishes to change its name and is using RUN to reserve a new name.
  • Proposed name: An Auto Check Facility
  • Comment: Mention the Objective of section 8 proposed Company and any other relevant information.

(C) Choose File:

This option is available to upload the PDF documents. If the applicant wants to attach any file then that can be upload through this option.

(D) Submission of Form on MCA Website:

After successful completion of all the above-mentioned steps, the user is eligible to submit the Form on the MCA website.

(E) Payment of Fees:

There is no option of future challan payment in the RUN Service. The Applicant has to mandatorily pay the fees immediately after the submission of the form. After successful payment, a challan shall be generated.

(F) The validity of Reserved Name:

Reserved name shall be valid for 20 days from the date of its approval.

Apply for Private Limited Company Registration with Company Registration Online.

STEP- II: Preparation of Documents for Company Incorporation

After the successful approval of the company name, the applicant is expected to prepare the following Documents:

(I)  INC-9: Affidavit / declaration by first subscriber(s) and director(s) (on duly authorized Stamp Papers).

(II) DIR-2: The declaration from the first Directors along with Copy of Proof of Identity and residential address.

(III) NOC from the owner of the property.

(IV) Proof of Office address: Conveyance/ Lease deed/ Rent Agreement etc. along with rent receipts

(V) Copy of the utility bills: not older than two months

(VI) In case the Director/ Subscribers do not possess a DIN, it is mandatory to attach an identity proof and residential address of the subscribers.

(VII) It is obligatory for all the Subscribers to possess a Digital Signature (DSC).

STEP – III: Fill the Information in Form 

Once all the above-mentioned documents/ information are furnished well then the applicant has to fill in the information demanded in the SPICe e-form.

STEP-IV: Preparation of MOA & AOA

After the proper and complete filing of SPICE form, the applicant has to download the INC-33 (MOA) e-form and IN-34 (AOA) e-form and fill all the information as per the requirements. Followed by attaching the DSC of all the subscribers and professionals on the subscribers’ sheet provided.

STEP-V: Fill details of PAN & TAN

It is compulsory to mention the details of PAN & TAN in the INC-32 Incorporation Form.

STEP-VI: Submission of INC-32,33,34 on MCA

The applicant must upload all the three forms on the MCA website after it’s successful completion followed by an online payment.

STEP -VII: Certificate of Incorporation

Incorporation certificate shall be generating with having the CIN, PAN & TAN information mentioned in it.

Related Article- Key Amendments in Private Placement of Shares u/s Section 42

2018-11-05T12:54:32+00:00Company Registration|