No Company’s name approval till 26 January 2018 – Problems and Solution

If you are looking for company incorporation in India, then you might have to wait till 26th January 2018 or file the company at your own risk. This comes in amid discussion when the government has scrapped the 5 years old name approval process via INC 1 form.

In simple words, if you want to file for name approval application, then you cannot do it until the new process is made live by the government and which happens to be on 26th January 2018. The INC 1 form procedure has been scrapped from 5th January 2018 and form will not be available after 11th January 2018.

How to file for incorporation without INC 1

Filing for company incorporation without filing the INC 1 is bit risky because of various interpretation and beaurocracy involved. Filling of company incorporation will have to do be done using spice form registration procedure. Under spice form, no separate name approval is filed rather a complete set of documents is prepared using a proposed name and the same is filed by paying the complete government fees along with the stamp duty.

However, the risk is that if the proposed name is not available by any chance, then the whole set of documents needs to be prepared again and the next time, if the new name is still not available, then the complete application will be rejected and all the government fees will be lost.

Why is INC 1 procedure scrapped?

The INC 1 procedure has been scrapped because the government is planning to introduce a completely new system of name approval so that the existing problem associated with the old procedure can be resolved.

How to file a resubmission of INC 1?

The name approval through INC 1 has been scrapped from 5th January 2018 however for resubmission; the INC 1 form is available until 11th January 2018. Hence, you must make sure that all the resubmission of INC 1 should be filed until 11th January 2018.

Suggestion & Recommendation

Since the INC 1 is not available, then filing of company registration through SPICE form INC 32 can be little risky and therefore, it is advised to file INC 32 only when you are fully sure about the name, otherwise wait till 26th January and get the name approved first.

Conclusion

In case of any doubt, you may please email us at info@hubco.in.