Amendments to the Companies (Incorporation) Rules, 2014

The significant amendments made to the Companies (Incorporation) Rules, 2014, by way of notification dated July 27, 2016 are: (i) permitting change in the name of company once its pending annual returns or financial statements have been filed or the payment or repayment of its matured deposits or debentures or interest thereon has been made; and (ii) requiring a registered non-banking financial company (‘NBFC’) to obtain a no-objection certificate from the Reserve Bank of India (‘RBI’) for changing the registered office from one State or Union Territory to another.

Further, by way of a notification dated October 1, 2016, MCA has introduced the Simplified Proforma for Incorporating Company Electronically (‘Spice’) e-form for providing speedy incorporation related services, in line with international best practices. With Spice, the process of incorporation of a new company has become completely digital and can be achieved in a much faster time frame than previously.

Published In:Inter Alia - Quarterly Edition - October 2016 [ English Chinese japanese ]
Date: October 1, 2016