The Ministry of Corporate Affairs has taken various measures to enhance the modus operandi of doing business in India, as a step to promote business in the Country. To have a smooth and simple process of doing business, the Ministry of Corporate Affairs has presented an integrated INC-29, a form form the new company incorporation. Under this the requirement for minimum paid up capital with be omitted and a mandatory common seal for companies optional and done away with filing for commencement of business. Various other departments have additionally stepped with accentuation on disentanglement of existing principles and strategies and utilization of data innovation for simplicity of working together and to make administration more powerful and proficient.
The Ministry of Corporate Affairs has established a Central Registration Centre (CRC) under Section 396 of the Companies Act, 2013 (Act) having jurisdiction all over India for speedier processing of incorporation related e-forms in 1 to 2 days. CRC Phase-1 for approval of Name availability e-from had started operations on 26.01.2016. CRC Phase-II for processing incorporation forms for companies is undergoing stabilization and optimization.