FAQs by MCA on “Name Reservation and Company Incorporation at CRC”
The Ministry of Corporate Affairs (MCA) has clarified the concerns of stakeholders by way of FAQs in the matter of “Name Reservation and Company Incorporation at CRC”, as under:
The Central Registration Centre (CRC) is an initiative of Ministry of Corporate Affairs (MCA) in Government Process Re-engineering (GPR) with the specific objective of providing speedy incorporation related services in line with global best practices.
CRC is presently tasked to process applications for name availability (INC-1) and forms related to new companies incorporation (INC-2/INC-7/INC-29/INC-22 and DIR-12.
You can use the services of check name availability for first-hand information on whether the proposed name is available and then apply for it in form INC-1 with six alternative names with different prefix word or INC-29 (composite Incorporation Form).
a. Similar Name Already Exists:
You are requested to read the mail carefully and follow the query. Before resubmitting please recheck the name from name availability option available at MCA website under ‘services’ tab and the Companies Incorporation rules 2014 with six alternative names.
b. Trade Mark Exists :
You are requested to read the mail carefully and follow the query. Before resubmitting please recheck the details of Trade Marks are available at MCA website under Trade Mark link.
5. How Can I apply for names which includes words like Insurance, Bank, Stock Exchange, Venture Capital, Asset Management, Nidhi, Mutual Fund, Finance, Chits, Investment, Leasing, Hire purchase etc. or any combination thereof?
Please select ‘yes’ in field 14a of INC-1 (Whether the proposed name includes the words such as Insurance, Bank, Stock exchange, Venture Capital, Asset Management, Nidhi, or Mutual Fund etc.) if name has finance or any other indication of finance activity.In case of INC-29 (Integrated Incorporation Form), if proposed name includes combination of above words, please select ‘yes’ in field 5(b)(iv). In respect of section 8 companies, declaration is required to be attached confirming that after Incorporation, all the mandated requirements of the respective Act/regulator, such as IRDA, RBI, SEBI, MCA, etc will be complied with. The above declarations are required to be given in compliance of rule 8(2)(b)(iii) and (xiii) of the Companies (Incorporation) Rules 2014 (as amended).
Prescribed particulars in E-form INC-1 are required to be filled in field 11 & 12 duly supported by NOC from the Trade Mark owner. In case of INC-29, Trade Mark details are required to be filled up in field 5(c) of duly supported by NOC from trade mark owner. The details of Trade Marks are available at MCA Website under Trade Mark link.
NOC by way of Board resolution from existing company is required to be attached with e-form.
This type of name may be allowed when accompanied with NOC by way of board resolution from the existing companies whose name is same.
Yes. However, an off-line application has to be made to the Joint Secretary, Ministry of Corporate Affairs, Shastri Bhawan, Dr Rajendra Prasad Road, New Delhi-110 001. MCA will process the application on case to case basis for necessary approval. On approval of the application a pre-formatted INC-1 or INC-29 (enabling therein the word company in its name) will be forwarded to the applicant through the jurisdictional RoC for filing purposes.
Yes for this type of name, you can apply along with declaration as per rule 12 of the Companies (Incorporation) Rule, 2014 if, license is issued under section 8. However, Finance activity is under regulatory control of RBI. Hence at the time of filing incorporation documents promoters/director of proposed company are required to give undertaking as per rule 12 of the Companies (Incorporation) Rules, 2014.
(i) To incorporate a Section 8 company the promoter/applicant has to first submit an application in INC-1 for reserving a name for a section 8 company (Select radio button of “section 8 Company”).
(ii) On the approval of this application for name, he has to file INC-12 with Jurisdictional RoC for obtaining a License. While making an application for License in INC-12, the approved SRN of INC-1 is a pre-requisite. Please refer the field 3 (* Indicate Registrar of companies (ROC) reference number for name approval (Service Request Number (SRN) of Form INC-1) of INC-12.
(iii) On obtaining the License, he may file INC-7 for incorporating the company. While filling INC-7 the relevant approved SRN of INC-1 and License Number obtained through INC-12 has to be filled in relevant fields.
Note: While INC-1/INC-2/INC-7 along with relevant linked forms viz. INC-22 and DIR-12 and INC-29 are processed by the CRC, application for License (INC-12) is processed by the jurisdictional RoC.
Re-submission/PUCL is allowed only ‘once’ (in aggregate) in respect of INC-1/INC-2 and INC-7. However, Re-submission/PUCL is allowed ‘thrice’ (in aggregate) in respect of INC-29.