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MCA News & Updates as on 06th January, 2018:

  • Regarding the Condonation of Delay Scheme (“CODS, 2018)

(notified vide General Circular No.16/2017 dated 29th December 2017)

MCA have informed that the stakeholders may note that the process for ‘reactivating’ the DINs in system in respect of disqualified Directors is in progress and they may check the status of the relevant DINs by 12th January 2018. However, they are requested to be ready with necessary ‘overdue documents’ for filing purposes. It has also informed that the scheme is not applicable for those Directors who may have been associated with a company which was struck off under Section 248(1) of the Companies Act-2013 and such DINs shall be activated only upon receipt of orders for revival of the said company as per due process laid down under Section 252 of the Companies Act, 2013.

  • Regarding Incorporation of Companies using SPICe form:

MCA has informed that it is proposed to mandate SPICe (Simplified Proforma for Incorporating Company Electronically with mandatory PAN & TAN application included) as the only form for incorporation of companies w.e.f. 26th January, 2018. Accordingly, INC-7

(Application for Incorporation of Company (Part I Company and Company with more than Seven Subscribers) would be deprecated for incorporation of companies.

A detailed notification and FAQs relating thereto would be made available as and when the same is notified.

  • Discontinuation of form INC-1 (Application for reservation of name and Change of Name by Companies) and form INC-7 (Application for Incorporation of Company (Part I Company and Company with more than Seven Subscribers):

As informed by MCA, a new name reservation service is being developed and is likely to be deployed on 26th January, 2018. Therefore w.e.f. 00:00 hours on 06-01-2018, INC-1 will not be available on the MCA Portal. It is been advised to submit INC-1 application till 23:59 hours of 05-01-2018. Stakeholders who have reserved names using INC-1 are requested to use SPICe form for incorporation immediately. However, resubmission of INC-1 is allowed till 23:59 hours of 11-01-2018.

Further, Form INC-7 (Application for Incorporation of Company (Part I Company and Company with more than Seven Subscribers) is likely to be discontinued w.e.f 10.01.2018 in case the name reserved using INC-1 is to be used for incorporation through SPICe form, users should file the form latest by 17.01.2018. It is requested that SPICe should be filed with due care as it will be allowed only one resubmission which has to be completed latest by 25.01.2018. It is advised for stakeholders to plan accordingly.

  • Regarding the new form INC-1 (Application for reservation of name and Change of Name by Companies):

MCA has informed that it is under the process of designing a Front Office service (replacing INC-1 eform with Web-Form) for Name Reservation and Change of Name for
companies capturing only absolutely essential information from the applicants.

The said new service is likely to be rolled out on 26th January 2018.

  • Issuance of Directors Identification Number’s (DIN’s):

As part of the process of reengineering the procedure of allotment of DIN, MCA has clarified that DIN will be alloted of DIN to individuals only at the time of their appointment as Directors (If they do NOT possess a DIN) in companies. DIR-3 (Application for Director Identification Number) would be applicable for the allotment of DIN to individuals in respect of existing companies only and shall be filed by the existing company in which the proposed Director is to be appointed. Further, DINs to the proposed first Directors in respect of new companies would be mandatorily required to be applied for in SPICe forms (subject to a ceiling of 3 new DINs) only.

Also it is proposed modify form DIR-3 (Application for allotment of Director Identification Number) to permit allotment of upto 2 new DINs (since SPICe provides for upto 3 new DINs) only in respect of ‘Producer Companies’.

A separate notification would be issued for the same by the Ministry.

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