A centralized office has been set up by the Ministry of corporate affairs for issuing name approvals to applications for company registrations all over India. This is a good step towards simplification of registration procedure as all company names will now be approved by one office in India. This is a wonderful step towards simplifying and speed tracking the company registration process in India and will reduce the hassle for the process of name approval.
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 main features of the new centralized system for name approval are as follows:-
- Now the proposed name sent for approval will no longer be required to be in consonance with the primary objects of the company as set out in the Memorandum of Association. Further, in case of change of activities carried out by a company, the company will not be required to change its name to be in consonance with its new activities
- Names will no longer be rejected by the ROC on the grounds that they are abbreviated or vague.
- Names that are likely to produce a misleading impression regarding the scope or scale of the applicant company’s activities will no longer be restricted.
- The applications for reservation of names (Form INC-1) will now be approved/rejected by the Registrar of the CRC;
- Three opportunities will be given to correct/remove defects and complete forms as per the requirements of the concerned ROC (for applicants making applications in e-Form No. INC-29) provided that the re-submission of documents should not exceed a total period of 30 days.
Thus, if you are willing to get your company’s name approval done, the process is pretty straightforward and simple now with added features as stated above. The centralized process for registration will create one stop for registration, speed up the process and will keep the applicants out of any trouble.
Author: This blog is written by Ms. Eishani Behl, a passionate blogger & intern at Aapka Consultant.
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