NAME APPROVAL PROCESS
NAME APPROVAL PROCESS FOR DIFFERENT-2 TYPE OF COMPANIES SERIES NO 155
Section
4(1)(a): The name of the company with the last
word “Limited” in the case of a public limited company, or the last words
“Private Limited” in the case of a private limited company. Name should not be
undesirable. Guidelines in relation to approval of name discussed separately in
earlier article.
As per MCA Notification, The Central
Registration Centre [CRC] shall process forms pertaining to registration of
Name.
The jurisdiction, processing and
approval of name or names proposed in e-Form number INC-29 hitherto exercised
by the respective Registrar of companies having jurisdiction over incorporation
of companies under the Companies Act, 2013 and the rules made there under shall
forthwith be exercised by Registrar, CRC.
Jurisdiction of Authorities: After approval of Name Company will file the Incorporation
forms with ROC. ROC after verify all the forms and documents issue certificate
of Incorporation.
PROCESS FOR APPROVAL OF NAME:
Pre Name
Approval:
§ At Least 2 Promoters: Promoters who will Apply for the Name
and incorporate the company. Promoters may be individual or body corporate.
§ At Least 2 Directors: Directors should be individual only. No
Body corporate/ HUF or Partnership Firm can be appointed as Directors.
§ Directors must have DIN (Directors Identification Number)
§
One of such two directors must have DIGITAL SIGNATURE.
Process
for Name Approval
§ The promoters should apply for the name of the company to be
approved in E Form- INC- 1 by payment of Rs. 1000 through Credit Card/ Debit
Card/ Net Banking.
§ One of the Promoters should fill up e-form INC-1, digitally
sign by Promoter and then upload the e-Form on the MCA21 Portal. Before doing
so, the following three points have to be complied with:
a.
All the Promoters should have
their DIN No.
b.
Atleast one Promoter should
have the DSC. (Class 2 Digital Signature)
c.
The proposed names selected
should fall in guidelines prescribed.
§ Info. Require to give in form INC-1 (Describing the Capital
of Company, Main Objects, State in Which The Company is to be
Incorporated and to Affix the Digital of Applicant.)
§ The reservation by the Registrar of name applied for is valid
for 60 days from the date of application. Hence if a company is proposed to be
registered with the said name referred to above, the promoters shall produce
the documents to the Registrar for registration with in a period of 60 days
from the date of application for name. If Promoters fail to file all the
relevant form for incorporation within 60 days, then name will not be Available
for you, Promoter have to file form INC-1 again for approval of Name.
Jurisdiction
of Authorities: After approval of Name Company will
file the Incorporation forms with ROC. ROC after verify all the forms and
documents issue certificate of Incorporation.
B.
Procedure for Name Approval of One Person Company:
Pre Name Approval:
§ At Least 1 Promoters: Promoters who will Apply for the Name
and incorporate the company. Promoters should be individual.
§ At Least 1 Directors: Directors should be individual only.
Directors must have DIN (Directors Identification Number)
§
Such directors must have DIGITAL SIGNATURE.
§ The promoters should apply for the name of the company to be
approved in E Form- INC- 1 by payment of Rs. 1000 through Credit Card/ Debit
Card/ Net Banking.
§ Promoters should fill up e-form INC-1, digitally sign by himself
and then upload the e-Form on the MCA21 Portal. Before doing so, the following
three points have to be complied with:
d.
Promoters should have their
DIN No.
e.
Promoter should have the DSC. (Class
2 Digital Signature)
f.
The proposed names selected
should fall in guidelines prescribed.
§ Info. Require to give in form INC-1 (Describing the Capital
of Company, Main Objects, State in Which The Company is to be
Incorporated and to Affix the Digital of Applicant.)
§ The reservation by the Registrar of name applied for is valid
for 60 days from the date of application. Hence if a company is proposed to be
registered with the said name referred to above, the promoters shall produce
the documents to the Registrar for registration with in a period of 60 days
from the date of application for name. If Promoters fail to file all the
relevant form for incorporation within 60 days, then name will not be Available
for you, Promoter have to file form INC-1 again for approval of Name.
Jurisdiction of
Authorities:
After approval of Name Company will file the Incorporation forms with ROC. ROC
after verify all the forms and documents issue certificate of Incorporation.
Procedure for approval of Name of Section 8 Company are
same as Normal Company Name Approval.
Power of ROC: The power of the Central government is
delegated to the Registrar of Companies (‘ROC’) having Jurisdiction over the
area where the Registered office of the company is proposed to be situated. Hence,
the application for registering such Company is to be made to the ROC.
Not Required To Add The Suffix: Section
8 Companies are not required to add the suffix Limited or Private Limited at
the end of their name. All
Companies having limited liability are required to use the term ‘limited’ or
‘private limited’ as the case may be in their names as required by section 13.
But section 25 companies are allowed to dispense with the use of term
‘limited’ or ‘private limited’ from their names [sub-sec. (6)]. This helps
the Company to enjoy limited liability without disclosing to the public the
nature of liability of its members
Obtainment of License: After approval of Name, Company will file an application with Regional Director for License under
Section 8, The Company will file in form
INC 12. (But at present
e-form INC-12 is not available on MCA website then such form will be file as an
attachment of form RD-1).
Power of Incorporation: After receipt of license.
Company will file incorporation documents with ROC. If after filling the Requisite
forms for incorporation with the Registrar of Companies along with fees, ROC is
satisfied with the contents of the documents filed, ROC will issue the Licence
in form No. INC.16 under section 8(1) read with rule 19 of Companies
(Incorporation) Rules, 2014. Such company registered under section 8 shall
enjoy all the privileges and be subject to all the obligations of Limited Companies
D.
Procedure for Name Approval of Nidhi Company:
Procedure for Name Approval of Nidhi Company:
Pre Name
Approval:
- A Nidhi company to
be incorporated under this Act shall be a Public Company
- It shall have a
minimum paid up equity share capital of Rs.5,00,000/
- The object of the
company shall be cultivating the habit of thrift and savings amongst its
members, receiving deposits from and lending to its members only for their
mutual benefits;
- It shall have the
words ‘Nidhi Limited’ as part of its name;
Procedure for approval of Name of Nidhi Company are same as Normal Company Name Approval.
Only One
point is Extra: In point No. 15(a) if INC-1
Whether the proposed name includes the word such as Insurance, Bank, Stock
Exchange, Venture Capital, Asset Management, Nidhi, or Mutual Fund etc. In this Point select yes and mention MCA.
Power of Incorporation: After approval of Name Company will file the Incorporation
forms with ROC. ROC after verify all the forms and documents issue certificate
of Incorporation.
E.
Procedure for Name Approval of NBFC Company:
Procedure for approval of Name of Nidhi Company are same as Normal Company Name Approval. The name must reflect the character of an NBFC.
Words such
as Investment, Finvest, Finstock, Finance etc. may be used
as part of
the name.
Obtainment of License: After approval of Name, Apply for
Certificate of Registration to RBI alongwith Required Documents: The NBFC
Company is required to submit its application online for registration by
accessing RBI’s secured website. The company can then download suitable
application form (i.e. NBFC or SC/RC) from the above website, key in the data and
upload the application form. The company would then get a Company Application
Reference Number for the CoR application filed on-line. Thereafter, the company
has to submit the hard copy of the application form (indicating the Company
Application Reference Number of its on-line application) in duplicate, along
with the supporting documents as prescribed in the form, to the concerned
Regional Office. The company can then check the status of the application based
on the acknowledgement number. The Bank would issue Certificate of Registration
after satisfying itself that the conditions as enumerated in Section 45-IA of
the RBI Act, 1934 are satisfied.
Power of Incorporation: After receipt of approval from
RBI. Company will file incorporation documents with ROC. If after filling the
Requisite forms for incorporation with the Registrar of Companies along with
fees, ROC is satisfied with the contents of the documents filed, ROC will issue
the certificate of incorporation.
F.
. Procedure for Name Approval LLP:
. Procedure for Name Approval LLP:
The designated partners should apply
for the name of the company to be approved in E Form- LLP- 1 by payment of Rs. 200
through Credit Card/ Debit Card/ Net Banking
Following
Information are required to be filed in form LLP-1
ü DIN
of Designated Partner.
ü Email
Id
ü Occupation
ü State
of Register office of Company
ü Objects
of LLP
ü Partners
Contribution into LLP
ü Name
of LLP
ü Significant
of Name
ü If
Proposed Name is Based on Trade Mark (NOC from the Owner of TM)
ü DSC
of Designated Partner
NOTE:
§
**In
case the displayed residential status needs to be updated or the residential
Status is not
displayed; you are required to file Form DIN-4 on MCA21 portal for updating the
residential status of the DP before filing this Form.
§ Ensure
that correct details have been provided as the same shall be automatically
pre-filled in Form 2 for incorporation of LLP.
§ Upon
receipt of an application under Section 16(1) and on payment of the prescribed
Fees of Rs. 200/-, the Registrar may, if he is satisfied, subject t to the
rules prescribed by the Central Government in the matter, that the name to be
reserved is not one which may b e rejected on any ground referred to in
sub-section (2) of Section 15, reserve the name for a period of three month
from the date of intimation by the Registrar.
Power of Incorporation: After approval of Name LLP will file
the Incorporation forms with ROC. ROC after verify all the forms and documents
issue certificate of Incorporation.
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S. NO.
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Particular
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Normal
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OPC
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Section-8
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Nidhi
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NBFC
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LLP
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1.
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Forms for Name Approval
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INC-1
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INC-1
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INC-1
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INC-1
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INC-1
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LLP-1
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2.
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License after Name Approval
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NA
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NA
|
Regional
Director
|
MCA [4]
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RBI
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NO
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3.
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Departments involved
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ROC
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ROC
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RD+ROC
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ROC
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RBI+ROC
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ROC
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4.
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Forms Involved
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INC-7/22
DIR-12
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INC
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INC-13
INC-7/22
DIR-12
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INC-7/22
DIR-12
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INC-7/22
DIR-12
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LLP-2/3
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[1]
The illustrative of names based is as follows: In case of an one person company – ABC Private/
Public Limited
[2]
The illustrative of names based is as follows: In case of an one person company – ABC (OPC)
Private Limited
[3]
The illustrative of names based is as follows: In case of an one person company – ABC
[4]
Power deligated to ROC.
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