Company Incorporation Amendment Rules 2015 Highlights

1.  Rule 5 for penalty on One person Company has been omitted and replaced with Rule 7A where the penalty is reduced from Rs. 10,000/- to Rs. 5,000/- and from Rs. 1,000/- to Rs. 500/- respectively.

2. In these rules, the words “having paid up share capital of fifty lakhs rupees or less or average annual turnover” has been replaced everywhere with “having paid up share capital of fifty lakhs rupees or less and average annual turnover”.

3. In rule 16 (1) (q), the promoter or first director can self-attest his signature and photograph in INC 10.

4. Integrated process of incorporation:

 Rule 36 has been inserted for the integrated process of incorporation of a company w.e.f. 01.05.2015.

 The application of allotment of DIN up to 3 directors, reservation of name, incorporation of company and appointment of directors shall be filed in INC 29 for one Person Company, Private company, public company and Producer Company can be filed.

 With the registration fee specified in Companies registration of offices and fees rules 2014, Rs. 2,000/- will be extra paid along with Form INC 29. 

 Only one name can be proposed in the Form INC 29.

 MOA and AOA will be prepared in the templates given in INC 30 and 31 respectively.

 The proof of registered office also will be attached with INC 29 as happens in INC 22. No separate INC 22 is required to be filed in that case.

 If the registered office and correspondence office will be same, then no need to file INC 28.

 Two resubmissions shall be allowed in case of INC 29 and time given shall be 15 days for every resubmission. After 2 resubmissions, if the form will have certain defects, then the form shall be rejected.

 COI will be issued in INC 11.

5. New and updated INC 7, 10, 11, 22, 29, 30, 31 are attached with these rules too.