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MCA HAS LAUNCHED A NEW E-FORM RUN(RESERVE UNIQUE NAME)
The government has launched a web service RUN (Reserve Unique Name) for reserving the name of a proposed company under the Government Process Re-engineering on this Republic Day to improve the ease of doing business in the country.
We can directly submit the application for reserving name online within few minutes (there is no requirement to download e-form like INC-1, and attaching DSC), has been launched for reserving the name of a new company or for change in name of the existing company earlier there was INC-1 for reservation of name of a new company or for change in name of an existing company.
The initiative is aimed at making the company incorporation process speedy, smooth, and simple.
BEFORE RUN
Before RUN (Reserve Unique Name) companies had to apply to reserve their names through Form INC-1. At the most, they had six choices from which they needed to pick their names. Applicants also needed to furnish at least one DSC and two DIN.
NOW IN RUN
In the RUN web form, a company name can be reserved very fast and in an easy way. Even digital signature is not required for the same, there is no requirement to download e-form like INC-1. The person can apply for the name of his choice. However, only one name choice can be provided at a time. The application form fee shall be Rs.1000/- perform for reservation of name by using the RUN web-form.
No requirement of DSC but you will be able to apply for name reservation only after login and there is also one restriction that SPICe form, INC-12, and INC-24 will be uploaded using the same ID
FEE FOR SUBMITTING APPLICATION
The fee is Rs. 1000 and there is no change in fee because earlier also you were required to pay Rs. 1000 while uploading INC-1.
THE APPROVED NAME IS VALID FOR A PERIOD OF
(i) 20 days from the date of approval (in case name is being reserved for a new company) or
(ii) 60 days from the date of approval (in case of change of name of an existing company)
PROCESS OF RUN (Reserve Unique Name)
- the Entrepreneur must first create a free MCA account. New users are required to create a login account first before using the service. After login, they may click on the icon RUN under the head ‘MCA Services’
- ENTER CIN -CIN is a Corporate Identification Number and it has to be entered only when an existing company wishes to change its name and is using RUN to reserve a new name.
- The user has to enter the name he wants to reserve, for the incorporation of a new company or for changing the name of an existing company.
- The user is advised to enter the objects of the proposed company and any other relevant comments in support of the proposed name.
- On submission of the RUN form with an Rs.1000 fee, the requested name would be checked by MCA personnel at the Central Registration Centre (CRC) against the company, LLP, and trademarks for tests of similarity
RESUBMISSION
No. Users may please note that the name applied for will either be approved or rejected and no resubmission is allowed. A fresh payment of Rs.1000 has to be made for every application submitted using the RUN service.
Zero fees for Company incorporation
Zero fees have been announced for the SPICe form, eMOA, and eAOA. However, stamp duty would still be applicable for incorporation as before. Startups/Entrepreneurs would be able to save thousands of rupees on the incorporation of a Company fee.
APPLICATION FOR DIN
Any person who wants incorporation of a Company can apply for DIN only through the SPICe. Details of Directors must be filled into the SPICe form along with their PAN or Passport details. Now DIR-3 form can be used by existing companies for adding a Director. The new DIR-3 form has the provision of requesting the CIN of the Company to which the Director would be added
FEE FOR INCORPORATION
Zero fees for incorporation of all companies with an authorized capital up to Rs. 10 lakh.
Regards
Rajput Jain & Associates
