Due to coronavirus disruption companies may be having losses but a loss of name will not be one of them. As we know that after the name approval, period of 20 days is given until further forms are submitted to use the name for incorporation.
But now according to the notification released by MCA, there is extension for the expiry of names reserved by companies for incorporation due to lockdown.
- As per the company rules, a company has to first reserve the chosen name for incorporation or changing with the Registrar of Companies(RoC).
- After name approval period of 20 days is given for further forms to be submitted and to use the name for incorporation.
- Now for such name reservations that are expiring between April 15 and May 3, the MCA has extended the reservation period by 20 days from May 3.
- This is also applicable on LLPs(Limited Liability Partnership).
- The service requests for which the last date of re-submission was falling between the mentioned dates, an extension of 15 days would be granted from May 3 on a case to case basis.