Name availability for chity company
This query is : Resolved
23 March 2017
SIR,
WE HAVE SUBMITTED FORM INC-1 FOR APPLICATION FOR RESERVATION OF NAME FOR A CHITY COMPANY.PROPOSED COMPANY INTENDS TO CARRY ON THE BUSINESS OF CHIT FUND ACTIVITY HENCE, PARA 14 (a) IS REQUIRED TO BE FILLED ALONG WITH THE APPROVAL OF REGISTRAR OF CHITS. WHILE CONTACTING ROC THEY INFORMED ME TO FILE A DECLARATION AS PER PROVISIO 12A. I DON'T GET ANYTHING LIKE THAT. SO ANYONE PLEASE SUGGEST ME HOW TO GET NAME FOR MY COMPANY BY PROVIDING DECLARATION TO ROC.
WE HAVE SUBMITTED FORM INC-1 FOR APPLICATION FOR RESERVATION OF NAME FOR A CHITY COMPANY.PROPOSED COMPANY INTENDS TO CARRY ON THE BUSINESS OF CHIT FUND ACTIVITY HENCE, PARA 14 (a) IS REQUIRED TO BE FILLED ALONG WITH THE APPROVAL OF REGISTRAR OF CHITS. WHILE CONTACTING ROC THEY INFORMED ME TO FILE A DECLARATION AS PER PROVISIO 12A. I DON'T GET ANYTHING LIKE THAT. SO ANYONE PLEASE SUGGEST ME HOW TO GET NAME FOR MY COMPANY BY PROVIDING DECLARATION TO ROC.
23 March 2017
First Proviso of Rule 12 of Incorporation rules provides that in case pursuing of any of the objects of a company requires registration or approval from sectoral regulators such as RBI, SEBI, etc then a declaration in this behalf shall be submitted at the stage of incorporation of the company. In your case approval of Registrar of Chits is required. Attached a declaration to Form INC-1 stating that we will take required approval from Registrar of Chits and re-submit the Form.
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24 March 2017
actually in the case of chity there is no need of getting approval from Registrar of chits
24 March 2017
@Thasneem
The proviso referred in the query has been inserted In the Companies (Incorporation) Rules,2014 vide notification dated 29-10-2015.
Prior permission , as you rightly said, is not required as per The Indian Chits Act,1982. But to get things done, declaration is now required.
The contents of the declaration should be -
+ the act referred by me doesn't warrant prior permission for incorporation.
+ commencement of each chitty requires prior permission from Chit Registrar and that will be taken in due course before commencement of business.
The proviso referred in the query has been inserted In the Companies (Incorporation) Rules,2014 vide notification dated 29-10-2015.
Prior permission , as you rightly said, is not required as per The Indian Chits Act,1982. But to get things done, declaration is now required.
The contents of the declaration should be -
+ the act referred by me doesn't warrant prior permission for incorporation.
+ commencement of each chitty requires prior permission from Chit Registrar and that will be taken in due course before commencement of business.
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24 March 2017
Yes you are right, prior permission is not required. After the incorporation you are required to obtained approval of Registrar of Chits before commencement of business. Mr. B.Chackrapani Warrier has rightly mentioned that decleration is required...
08 April 2017
Sir,
After filing INC -1 with declaration that, not required prior approval for reservation of name the form got rejected by MCA
After filing INC -1 with declaration that, not required prior approval for reservation of name the form got rejected by MCA
08 April 2017
What was the remark for rejection?? It may be due to selection of wrong authority for prior approval of any other reason.
12 April 2017
Proposed company intends to carry on the business of CHIT FUND ACTIVITY hence, para 14 (a) is required to be filled
along with the approval of Registrar of Chits. Further para 14(a) is filled as yes but approval of regulator
information is not filled correctly. This declaration is also required to be selected by applicant. Please resubmit
accordingly for further processing.
This was the remark. can u please suggest me how to fill it properly
along with the approval of Registrar of Chits. Further para 14(a) is filled as yes but approval of regulator
information is not filled correctly. This declaration is also required to be selected by applicant. Please resubmit
accordingly for further processing.
This was the remark. can u please suggest me how to fill it properly
13 April 2017
Select "yes" option in point number 14(a). If Yes, whether the in-principle approval is received from - select "other" option. Then mention "Registrar of Chits" and then select "no" option. Also attached declaration as discussed earlier.
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