DIN process
simplified
In
order to speed up the process of getting DIN, MCA
has decided to make it mandatory to apply for DIN
online.This may facilitate getting DIN
in a single day. Effective date yet to be
notified.
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Companies
Name Availability Rules simplified
MCA has
decided to replace the existing name availability rules with
Companies (Name Availability) Rules, 2011. The new rules would
cast more responsibility on the professionals and reduce
the time taken in the process of getting the name.
Effective
date yet to be notified.
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E-Payment mandatory for MCA
transactions
MCA with a view to improving service
delivery time, has decided to accept payments of value upto
Rs.50,000, for MCA 21 services, only in electronic mode w.e.f
27th March, 2011. Applicants can make both online or physical
challans payment for value more than Rs.50,000 till 1st
October’2011 from which date making online payment will become
compulsory for all kinds of payments.
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Incorporation
made easy!!!
MCA is set to
reduce the time taken to incorporate a Company to one day by
giving highest priority of ROC approval to Form 1. The other
forms like Form 18 and Form 32 will be processed by the system
online. The same provision is applicable to Foreign company
incorporating a subsidiary in India (Form 44).
Effective date yet to be
notified.
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Payment of
commission to non whole time
Directors
MCA has
clarified that no Govt. approval is required to pay commission
to non whole time Directors when the total commission payable
is less than 1% of the net profit of the company if the
company has Managing Director or is less than 3% if the said
Company does not have any Managing
Director.
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