OCT 03, 2016

MCA notifies new form for company registration

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After introducing form INC-29, the single incorporation form, MCA vide notification dated October 01, 2016 has notified another form i.e. INC-32 for simplified integrated process for incorporation. Some of the key features of INC-32 are outlined below:

  • INC-32 can be filed even after the name availability has been obtained vide form INC-1
  • Along with INC-32, Memorandum of Association & Articles of Association, will also be filed electronically in form INC-33 & INC-34.
  • INC-33 i.e. Memorandum of Association captures all information related to main objects, incidental objects, subscribers in the form itself.
  • INC 34 i.e. Articles of Association is based on Tables as provided in Schedule I to the Companies Act 2013. Based on the nature of Company, form list out the regulations contained in the relevant table, applicant can select the clauses which are not applicable to the Company. Though the provision has been provided in form to add clauses other than what is contained in the relevant Tables but it has character restriction and it is not clear whether such additional clauses can be attached as attachment to the form.
  • Requirement of physical subscription sheet has been dispensed with. Now subscribers and witness will be required to attach their digital signatures along with the form INC-33 & INC-34.

Though MCA is keeping no stone unturned to ease the process of company incorporation but the larger the number of forms, the more the confusion will be there among the stakeholders. Instead of bringing a new form, necessary changes could have been made into the existing form INC-29.

Further by the similar notification, MCA has provided that the order of Tribunal in case of conversion of public company into private company, shall be filed with the Registrar of Companies, in form INC-27.