THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
February 02, 2023
Shri Manoj Govil, IAS
Ministry of Corporate Affairs
Government of India
New Delhi -110001
Subject: Request to extend the reservation period of names reserved under Section 4(5) of the Companies Act, 2013 and period of re-submission under rule 9 of the Companies (Incorporation) Rules, 2014
We wish to invite your kind attention towards sub-section (5) of section 4 which deals with reservation of name of the company proposed to be incorporated and already registered under the Companies Act, 2013. It provides that upon receipt of name reservation application, the Registrar may, on the basis of information and documents furnished along with the application, reserve the name for a period of 20 days from the date of approval or such other period as may be prescribed. Provided that in case of an application received for reservation of name or for change of its name by an existing company, the Registrar may reserve the name for a period of 60 days from the date of approval.
Also, in terms of rule 9 of the Companies (Incorporation) Rules, 2014, in case the Registrar finds any defects, a period of 15 days for rectification of defects is given to the stakeholders for re-submission.
In this regard, we wish to bring to your kind notice the practical difficulties being faced by stakeholders during the transition period with regard to submission and resubmission of forms. Also, the professionals are in the process of registering and migrating themselves as Business User in the new system. Stakeholders have shared certain technical issues which are being faced while filing of e-forms, the same is attached herewith for reference.
In view of the above issues and concerns, we request you to kindly extend the reservation period for the names which are reserved under sub-section (5) of section 4 of the Act and the re-submission period under rule 9 of Company (Incorporation) Rules, 2014 for further period of 20 days for existing companies as well as for proposed companies.
We hope that the above submission would be considered favorably.
We shall be pleased to provide any further information or clarification in this regard on hearing from your goodself.
(CS Manis Gupta)
The Institute of Company Secretaries of India
List of practical and technical issues
Incorporation Form Issues
Company Form Issues
√ When CIN is given the error message is “Commencement of business form 20A not filed.” Even if the Company was registered before this requirement.
√ When filling the % of shareholding of promoters decimals are not accepting.
√ When buyback is below 10% of the total paid up equity share capital and free reserves, Board Resolution is sufficient. But form insisting to fill date of Special Resolution.
√ City — New Delhi. Error occurs” Field not filled in expected format”. This field is auto populated after filling PIN code.
√ Name of Liquidator — (Field not filled in expected format).