Learning The Process Of Company Registration With The Help Of Form INC-29

Posted by sunilkumar on March 18th, 2020

For the benefit of fast-tracking and simplifying the procedure of company registration in India, the MCA or Ministry of Corporate Affairs has introduced the Integrated Incorporation Form 29 or INC-29, in the year 2015. One of the significant merits of such a step is that it will significantly reduce the amount of time required to start a company in India. 

EForm INC-29 will be merging the method of company registration along with separate processes such as obtaining DIN/ Director Identification Number, incorporation application and name approval of the company - all into one single step. In this article guide, we’ll be diving in-depth regarding the procedure of fast-tracking company registration with the help of eForm INC-29.

Step-By-Step Procedure Of Using INC-29:-

1. Obtaining DSC or Digital Signature Certificate

Since the company incorporation process is performed online nowadays, the signatures of the company’s directors are required on all the relevant electronic documents. This is the reason why it’s necessary to obtain a digital signature online. 

To make the procedure a success, the directors of the company need to apply for DSC at the Class-II level. The charges quoted by the vendors (appointed by MCA) will include the physical USB token into which the digital certificate will be stored.

Documents Required: Self-attested PAN card or Passport (in case of foreign national), Address Proof.

2. Preparing The EForm INC-29

After obtaining a digital signature online, it’s time to look into the INC-29. The INC-29 is an eight-page form, and along with it, the company directors also need to submit multiple supporting documents. The process can take up to almost ten days, and resubmission is only allowed once. The following is the detailed procedure:

• DIN or Director Identification Number Application - A maximum of three directors can apply for DIN with the help of INC-29. The rest of the directors (if any) need to do the procedure separately. Through the DIN number, the MCA identifies the company directors. 

• Documents Required - Self-attested passport-size photograph and PAN card (or passport in case foreign nationals and address proof.

• Approval Of Name - The directors, need to settle for a name in regards to the company, describing its main objectives and significance. Only one option is provided, so following the guidelines is mandatory.

• AoA & MoA - Articles and Memorandum of Association, which will be containing the main objectives of the company’s business. The MoA needs to be attached with an affidavit from all the company subscribers in eForm INC-9. 

• Verification Of Company’s Registered Office - The details of the registered office address of the company need to be provided. All companies must have a registered office address.

• Documents Required: Rental Agreement, NoC (No Objection Certificate) from the owner, Sale Deed.

• Appointment Letters & Declarations - The appointment letters of CEOs, directors, managers, first director declaration should be included in INC-9. Disclosure by the managing director and appointee director should be made in DIR-2. The letters and announcements need to be self-attested, followed by a separate declaration from a Company Secretary.

3. Filing And Issuing Of Incorporation Certificate

Once the papers are in order, the eForm INC-29 can be filed. The filing is followed by the payment of fees, that vary according to the authorized capital of the company, and stamp duty (as applicable). 

After the filing of the INC-29 form, the final stage is the Incorporation Certificate. No cost is incurred at this stage. If the correct procedure is followed, it'll take around 14 working days to get the registration completed.