The Union Ministry of Corporate Affairs on 1 May 2015 launched Form-INC -29 to make the process of establishing new companies smoother for entrepreneurs.
The Form-INC-29 is an integrated electronic application form and can be used alternatively in the place of filling five separate e-Forms to set up a new company.
Features of Form-INC-29
• Through the form, organisations can apply for company name, Director Identification Number (DIN) and registration of company.
• In the form, along with the company’s name, applicants are required to furnish the details about significance of abbreviated or coined word in the proposed name.
• The applicants has to declare that the proposed name is not offensive to any section of people and also not in violation of the provisions of Emblems and Names (Prevention of Improper Use) Act, 1950.
Comment
Introduction of the Form-INC-29 is in tune with the Union Government’s intention to improve the ease of doing business in India and there by attracting the necessary investments into the economy. As per recent Ease of Doing Business Index of the World Bank, India is at the 142nd position among the 189 countries in the world.
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