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RESERVE UNIQUE NAME

Corporate Laws / Banking / SEBI - By: - Mr. M. GOVINDARAJAN - Dated:- 1-2-2018 - Reservation of name Section 4 of the Companies Act, 2013 ( Act for short) deals with the procedure of preparing the memorandum of the company. For incorporation of a company a name has to be selected and got approved. Section 4(2) provides that the name stated in the memorandum shall not- be identical with or resemble too nearly to the name of an existing company registered under this Act or any previous company law .....

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or any local authority, corporation or body constituted by the Central Government or any State Government under any law for the time being in force; or such word or expression, as may be prescribed, Section 4(4) provides that a person may make an application, in such form and manner and accompanied by such fee, as may be prescribed, to the Registrar for the reservation of a name set out in the application as- the name of the proposed company; or the name to which the company proposes to change i .....

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of the Act. The newly substituted section 4(5) provides that upon receipt of an application under sub-section (4), the Registrar may, on the basis of information and documents furnished along with the application, reserve the name for a period of twenty days from the date of approval or such other period as may be prescribed. In case of an application for reservation of name or for change of its name by an existing company, the Registrar may reserve the name for a period of sixty days from the .....

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anies (Incorporation) Rules, 2014 provides that an application for the reservation of a name shall be made in Form No. INC.1 along with the fee as provided in the Companies (Registration offices and fees) Rules, 2014 which may be approved or rejected, as the case may be, by the Registrar, Central Registration Centre. The Companies (Incorporation) Amendment Rules, 2018 substituted the above Rule 9 for a new one. The newly substituted Rule 9 provides that an application for reservation of name sha .....

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speedy, smooth, simple and reducing number of procedures involved in starting a business. This is a post-login service and existing users would need to login into their account using their credentials. 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 . The following is the procedure to be adopted in filling the form and to get the name approved by the CRC: Entity type (This field is to be .....

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of an existing company. Users are requested to ensure that the proposed name selected does not contain any word which is prohibited under Section 4(2) & (3) of the Companies Act, 2013 read with Rule 8 of the Companies (Incorporation) Rules, 2014. Users are also requested to read and understand Rule 8 of the Companies (Incorporation) Rules, 2014 in respect of any proposed name before applying for the same. Name search can be made in the website http://www.mca.gov.in/mcafoportal/ShowCheckCompa .....

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; After entering all these, then the submit button is to be clicked. Upon successful submission of the proposed name and the payment, challan will be generated depicting the details of the fees paid by the user. Users may please note that the name applied for will either be approved or rejected and no resubmission is allowed. A fresh payment of ₹ 1000 has to be made for every application submitted using the RUN service. Name applications will be processed by Central Registration Centre (CR .....

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plications. When a proposed name is approved/ rejected, an email communication containing confirmation of approval/rejection (as the case may be) with related documents, if any, is sent to the email id of the applicant. Name approval/ rejection letter upon approval/ rejection of the eForm is system generated and shall be digitally signed by the Registrar and sent to the email id of the applicant. Rejection letter is generated on the basis of rejection codes defined by the Ministry. Entity type E .....

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