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On the occasion of 69th Republic Day MCA has introduced some major changes termed as Government Process Re-engineering (GPR) initiatives for simplification of the incorporation procedure. These initiatives are taken with a view to achieving a position in the top 50 countries for “Ease of Doing Business”. These rankings are published by the World Bank every year.
There have been many initiatives taken by the Government in the last 3 years with a view to promote and support people willing to start a new business. For Company Registration alone, the old forms of incorporation were replaced by INC-29, then by Spice. Spice is a single form which is to be a file for registration of a new company.
With the new initiatives launched on 26th January 2018, the incorporation procedure is further simplified. Earlier before filing the Spice, the applicants were required to get Director Identification Number. Now, that step can be avoided if the Incorporation Process is done directly through Spice+ without name reservation.
Also, Read: Checklist for Incorporation of Section 8 Company.
In other words, we can say that Din can be acquired in the following two ways;
Earlier Dir-3 was filed by individuals for acquiring a DIN no. Now, even the Dir-3 form is being amended. Information relating to the company in which the person is to be appointed as directed will be filled in the DIR-3 form.
Now, DIR-3 will be used by existing companies for the purpose of adding a director on the board.
For the appointment of an individual as a director in any proposed company, no separate DIN application is required to be filed. DIN can be applied directly through the SPICE+ form mentioning the PAN and address proof details.
The new name reservation service introduced by the name RUN (Reserve Unique Name) is one of the new initiatives taken by the Government with a view to simplifying the incorporation process. However, there are certain merits and demerits of this service.
People Also Read: Company Incorporation Compliances Under Companies Act 2013 in India.
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