changes in Form 1A by CS Mamta Binani

CHANGES IN FORM 1A BROUGHT IN BY THE MINISTRY OF CORPORATE AFFAIRS (Brief Analysis):

1. Fee for the form has been raised to Rs.1,000/- from Rs.500/-.

2. Point number 8 has been inserted to give the option of certification by a Practicing Professional.

3. In case the form is being certified by a Practicing Professional, only one name has to be entered in Point number 9.

4. Point number 11 has been inserted to specify the name of any existing company with a similar name, from which a No Objection is to be taken.

5. Point number 13 has been inserted with the provision for approval from the government in case any Company is to be associated with Central Government, State Government or Local Authority.

6. In case the form is certified by a practicing professional, it will be approved automatically. If not so certified, it will be approved by the concerned officer at the Office of the ROC.

7. New points have been introduced for verification as under:

· That the search facility on the MCA Portal has been used for checking the resemblance of name with any existing Company or LLP.
· That the name is not in violation of the provisions of Emblems and Names (Prevention of Improper Use) Act, 1950.
· That the proposed name is not offensive to any section of people.
· That the Proposed name is such that its use by the company will not constitute an offence under any law for the time being in force.
· That all the mandated requirements of the respective Act/regulator, such as IRDA, RBI, SEBI, MCA, etc. have been complied with (applicable only in case proposed name includes words like Insurance, Bank, Stock Exchange, Venture Capital, Asset Management, Nidhi, Mutual Fund, Finance, Investment, Leasing, Hire purchase etc. or any combination thereof).
· An undertaking to be fully responsible for the consequences, in case the name is subsequently found to be in contravention of the provisions of section 20 and 21 of the Companies Act, 1956 and the prescribed guidelines.

8. The certifying professional has to certify that:

· All required attachment(s) have been completely attached to the form.
· The search facility available on the portal of Ministry of Corporate Affairs (MCA) for checking the resemblance of the proposed name(s) with the companies and LLPs respectively already registered or the name already approved has been used.
· The proposed name is not an undesirable name under the provision of section 20 of the Companies Act, 1956 and also is in conformity with Name Availability Guidelines, 2011.