Before introduction of INC29, to incorporate a company requires 5 forms (DIR-3, INC-1, INC-7, DIR-12, INC-22) to be filled.
INC-29 (Integrated incorporation process) reduces burden of filling all the forms.
Compared to the old process, it has the potential to save you a lot of time, if properly implemented.
Requirements for incorporating company:
1. MOA & AOA should be as per schedule-I of Companies Act 2013.
2. Proof of Address & Proof of identity for all “subscribers”.
(For proof of identity: Voter Identity Card, Passport, Driving License & Aadhar card)
(For proof of address: Telephone bill, Electricity bill & Bank Statement)
3. INC-9 from all Subscriber’s
4. INC-10 from all subscribers.
Guidelines for incorporating company:
1. Select the type, class, category of proposed company within given options
2. If AOA & MOA is not as per Schedule- I then select “No” in 2(b) & 2(c).
3. Check the name availability of proposed company in MCA website.
4. If the proposed company has any trade mark, then application pending for registration under the Trade Marks Act shall be attached
5. Significance of abbreviated or coined word in the proposed name should be given.
For example: The proposed company name is PQR Agro private limited. Then you need write that P, Q, R are names of promotors, engaged in manufacture of agro products.
6. Enter number of first subscriber(s) to MOA and directors of the company
For example: If your proposed company have 5 Subscribers
[2 directors (Having Valid DIN) cum subscribers],
[3 subscribers other than directors]
Then the table should be filled as shown in picture.
7. Normally many of them misunderstood that they can apply PAN & TAN for company through this form. But you cannot apply because there is separate e-biz portal for applying PAN & TAN.
1. MOA & AOA
2. Affidavit and declaration by first subscriber and directors (INC-9)
3. Proof of Identity & Proof of Address for all subscribers (Including directors).
4. INC-10. also attested by Notarized person.
• INC-9 should be notarized on a stamp paper.
• INC-10 should be attested from Bank Manager.
• Witness should be as per Rule 13(1) of Company Incorporation rules 2013.
• All subscribers’ details in AOA & MOA should be in hand written.
• Total number of shares taken should also be in hand written
CA,CS Ashish Gupta