Sub: Process of incorporation of Companies ( Form-1) and establishment of principal place of business in India by Foreign Companies ( Form-44) – Procedure simplified.
Ministry has received various representations regarding time taken by the Registrar of Companies for registration of Form-1 and Form-44.
The Ministry has got the issue examined by Business Process Re-engineering Group under MCA-21 and in order to speed up and simplify the process of incorporation of Companies and establishment of principal place of business in India by Foreign Companies for reduction in time taken by Registrar of Companies, the below mentioned procedure have been recommended :
1.Only Form-1 shall be approved by the RoC Office. Form 18 and 32 shall be processed by the system online.
2.There shall be one more category, i.e., Incorporation Forms ( Form 1A, Form 37, 39, 44 and 68) which will have the highest priority for approval.
3.Average time taken for incorporation of company should be reduced to one (1) day only.
4.A Notification to notify minor changes in e-forms 18 and 32 to enable them to be taken on record through STP mode for aforesaid procedure is being issued separately.
