As per MCA notification dated, 24th of December, 2020, there is an amendment in the Companies (Incorporation) Rules, 2014, therefore these rules are called as Companies (Incorporation) Third Amendment Rules, 2020, Notified with effect from 26th January, 2021.

PROVISION APPLICABLE BEFORE 26TH JANUARY, 2021

The name reserved of the Company shall be reserved for a period of Maximum 20 days from the date of Approval by Central Registration Centre. This means, in case promoter, fails to incorporate a Company within a period of twenty (20) days, the name shall expire.

PROVISION APPLICABLE AFTER 26TH JANUARY, 2021

Under Companies (Incorporation) Rules, 2014, after the Rule 9, Rule 9A, has substituted w.e.f 26th January 2021, the promoter can take an extension for the reservation of name of Company in the following manner, by payment of prescribed fees, through the MCA web services available at www.mca.gov.in

 

S.no Extension Amount to be paid Till when payment is required to made
1. Up to 40 days from the date of approval of the name by CRC, under rule 9    1000 Before the expiry of 20 days from the date of approval of the name
2. Up to 60 days from the date of approval of the name by CRC, under rule 9     2000 Before the expiry of 40 days from the date of approval of the name
3. Up to 60 days from the date of approval of the name by CRC, under rule 9 3000

Before the expiry of 20 days from the date of approval of the name

Conclusion:

As per the relaxation under Rule 9A by the Ministry through a notification dated 24th December 2020. The name of the Company shall be reserved for a maximum period of 60 days instead of 20 days.

Disclaimer: This disclaimer informs that the views, thoughts, and opinions expressed are solely to the author of this article and this article have been prepared based upon relevant provision available at the time of preparing this Article. Therefore, I assume no responsibility for the consequences of the use of such information.

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CS Riya Khurana
[email protected]
Contact No.: 8810649870

Cs Riya Khurana

Cs Riya Khurana