Fast Track Formation of Company In India

Overview:

INC-29 will give you the facility to avail of various services for a new business through a single e-form. Form INC 29 is the integration of the following existing forms

1. DIR 3 – Applying for DIN.
2. INC 1 – Checking for Name availability.
3. INC 7 – Incorporation of Company.
4. DIR 12 – Appointment of Directors.
5. INC 22 – Notice of situation or change of situation of registered office.
6. The PAN and TAN of the company will automatically be generated.

Thus incorporating a Company by filing five forms has gone down to just one form which saves a lot of Money and time.

Companies which can be Registered using Form INC-29

The following types of companies can be registered using Form INC-29:

• Private Limited Company
• One Person Company
• Limited Company
• Producer Company

Features of the e-form INC-29

The form can be used for:

• Allotment of Director Identification Number (DIN)

• Name Approval of a company

• Incorporation of a company

The e-form INC-29 will be available for incorporating a company other than section 8 companies. It will accommodate applications for up to 3 new DIN applicants who will be the incorporated company’s Directors.
The following attachments are mandatory in all cases:

• Memorandum of Association.
• Articles of Association.
• Affidavit and declaration by first subscriber(s) and director(s).
• Proof of office address.

In case of an OPC, it is mandatory to attach:

• Consent of nominee.
• Proof of identity and residential address of the nominee.

Risk involved:

• The form is allowed only for two re-submissions in case of rejection for the third time the fees paid will not be refunded.
• The address proof provided in the DIN application must be the same.
• The form will be assisted by a separate team. In case of a long queue the Approval may be delayed.
• The professional who affixes the signature will be responsible for the details given in the form.

Investment Involved:

Additional Rupees 2000/- to normal incorporation fees.

(Author Ankita Chopra is Partner at Whitte Collar Legal LLP and can be contacted at whitecollarlegal@gmail.com)