MCA further relaxes expiry of names reserved by companies for incorporation (READ NOTIFICATION)

The Ministry of Corporate Affairs (MCA) on Monday has again relaxed the rules of Re-Submission of forms & period/days of extension for Name reserved due to COVID-19 pandemic. According to the Company Rules, a company has to first reserve the chosen name for incorporation or changing with the Registrar of Companies.

MCA further relaxes expiry of names reserved by companies for incorporation (READ NOTIFICATION)



Once the name is approved, a period of 20 days is given until further forms are submitted to use the name for incorporation. For such name reservations that are expiring between March 15th and June 30th, the MCA has extended the reservation period by 20 days from June 30th 2020.

Also Read: MCA extends time period for holding EGM through VC/OAVM till September 30

Similarly, for existing companies, the reservation period for changing of names is 60 days, which has also been extended by 60 days from June 20th 2020.

The same is applicable for LLPs.




MCA vide explanation dated 22.06.2020 states:

Sl.

No

 

Issue description

 

Period/Days of Extension

 

 

 

1

 

 

Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of name reservation.

 

 

Names expiring any day between 15th March 2020 to 30th June would be extended by 20 days beyond 30th June 2020.

 

 

 

2

 

Names reserved for 60 days for change of name of company. INC-24 needs to be filed within 60 days of name reservation.


 

 

Names expiring any day between 15th March 2020 to 30th June would be extended by 60 days beyond 30th June 2020.

3 Extension of RSUB validity for companies. SRNs where last date of Resubmission (RSUB) falls between 15th March 2020 to 30th June 2020, additional 15 days beyond 30th June 2020 would be allowed. However, for SRNs already marked under NTBR, extension would be provided on case to case basis. Note: Forms will not get marked to (Not to be taken on Record)’NTBR’ due to non- resubmission during this extended period as detailed above. It also includes IEPF Non-STP eForms ( IEPF- 3, IEPF-5 and IEPF-7)

 

4

Names reserved for 90 days for new LLP incorporation/change of name. FiLLiP/Form 5 needs to be filed within 90 days of name reservation. Names expiring any day between 15th March 2020 to 30th June would be extended by 20 days beyond 30th June 2020.
 

 

 

5

 

 

 

RSUB validity extension for LLPs.

SRNs where last date of resubmission (RSUB) falls between 15th March 2020 to 30th June, additional 15 days would be allowed from 30th June 2020 for resubmission. However, for SRNs already marked under NTBR, extension would be provided on case to case basis.

Note: Forms will not get marked to (Not to be

taken     on     Record)’NTBR’     due     to  non-resubmission during this extended period as detailed above

6. Extension for marking IEPF-5 SRNs to ‘Pending  for  Rejection  u/r  7(3)’ and ‘Pending for Rejection u/r 7(7)’ SRNs where last date of filing eVerification Report   (for   both   Normal   as   well   as   Re- submission  filing)  falls  between  15th   March 2020 to 30th June 2020, would be allowed to file the  form  till  30th  Sep 2020.   However, for SRNs   already   marked   under   ‘Pending   for Rejection u/r 7(3)’ and  ‘Pending  for Rejection u/r 7(7)’, extension would be provided on case to case basis. Note: Status of IEPF-5 SRN will not change to ‘Pending for Rejection u/r 7(3)’ and ‘Pending for rejection u/r 7(7)’ till 30th Sep’20.


Click here to read the MCA notification.

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