The Ministry of Corporate Affairs has issued a Circular No. 31/2014 dated 19.07.2014 with respect to extension of time for the validity of reserved names made in INC 1 under the Companies Act, 2013 for which the service provider of MCA-21 has brought to the notice of ministry that there has been plethora of cases in this respect which allows the applicants to use the name approved within 60 days but that is at variance with the implementation at MCA thereby causing inconvenience to the stakeholders.
Out of these cases 1930 cases were those whose time limit got expired as on the date of this circular therefore it has been decided to extend the timeline upto 18th August, 2014. Further, those cases in which the names have been reserved but they are yet to be issued, the time period as indicated in the letters of intimation is allowed.
Hence, all the applicants may accordingly be advised to file the e-form INC 1 for incorporation of companies well before the validity period.