Ministry of Corporate Affairs Introduces Amended Rules to Streamline Corporate Application Process

[1]The Ministry of Corporate Affairs issued a notification on August 2, 2023, introducing the Companies (Incorporation) Second Amendment Rules, 2023. These rules amend the Companies (Incorporation) Rules, 2014 by substitution of Form RD-1, the form used for filing an application to the Central Government (Regional Director). The amended rules are designed to regulate corporate entities more effectively.

The amended Form RD-1 includes a new purpose of making the application to the Regional Director, namely the ‘Notice of approval of the scheme of merger in CAA-11’.

Additionally, the form has also been updated to include details of the transferor company, specifying the Corporate Identification Number (CIN) and name of the transferor company along with making a provision to attach a copy of the approved scheme of merger in Form No. CAA-11 in case the application is being made to notify the RD on the approval of the scheme of merger.

These amended rules aim to standardize and structure the application process, ensuring greater transparency and legal compliance for corporate entities operating in India.

[1] https://www.mca.gov.in/bin/dms/getdocument?mds=jYQ0wTBvMQwmTluXHncG0A%253D%253D&type=open