Extension of Reservation of Name : MCA

The Ministry of Corporate Affairs has notified Companies (Incorporation) Third Amendment Rules, 2020 which seeks to amend the Companies (Incorporation) Rules, 2014.

The said amendment deals with Insertion of a new Rule 9A: Extension of Reservation of name in Certain Cases w.e.f. 26/01/2021.

As per the new rule the Registrar shall extend the period of a name reserved under rule 9 by using web service SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus: INC-32) upto:

• Forty days from the date of approval under rule 9, on payment of fees of rupees of one thousand rupees made before the expiry of twenty days from the date of approval under rule 9.
• Sixty days from the date of approval under rule 9 on payment of fees of rupees two thousand made before the expiry of forty days referred above.
• Sixty days from the date of approval under rule 9 on payment of fees of rupees three thousand made before the expiry of twenty days from the date of approval under rule 9.

It may be pertinent to note that the Registrar shall have the power to cancel the reserved name in accordance with sub- section (5) of section 4 of the Act.

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