24 Hour Incorporation in India - A Lost Dream

24 Hour Incorporation in India - A Lost Dream

Ministry of Corporate Affairs (MCA) vide General Circular No. 49 /2011 Dated the 23rd
July, 2011 has announced that the simplified process of online incorporation of
companies as detailed in the said circular was is likely to be implemented with effect
from 11th  August, 2011 and has published advertisements in different news papers
across country.

Vide General Circular No. 61/2011 dated the 5th Sept, 2011, the Ministry has stated the
following:
…………………… since now companies are being incorporated within 24-48 hours, online
approval of incorporation forms i.e. STP mode of approval ……………. is not
going to be implemented yet.

MCA has taken a hasty decision and we have to identify the real reasons for this
withdrawal.

The documents / details obtained from MCA under RTI Act can be seen from following Link attached.

https://app.box.com/files/0/f/2879773847/1/f_24440991081

Executive Summary of the Information Received under RTI Act:Withdrawal of Online Company Incorporation in 24 hours

https://app.box.com/files/0/f/2879773847/1/f_1134590273

Representation by Bangalore Company Secretaries Association (BCSA)

Bangalore Company Secretaries Association (BCSA) has made a Representation to PM for Simplify the process of ‘Starting and Doing Business in India'

https://www.change.org/p/shri-narendra-modi-honourable-prime-minister-govt-of-india-simplify-the-process-of-starting-and-doing-business-in-india-3

https://app.box.com/files/0/f/2879773847/1/f_24440703985

Doing Business India - Will Ever be Easy??

To,
amitabh.kant@nic.in,
nsitharaman@nic.in,
cimoffice@nic.in,
fmo@nic.in,
secy.mca@nic.in,
mohan.joseph@mca.gov.in
CC
All ROC offices

Dear Sir,

We thankfully appreciate the new Government has rightly identified our ranking in Doing Business Survey by World Bank bank and has initiated thoughts for improvements.

The inputs you are getting is from the higher officials of Ministry of Corporate Affairs and senior officials may not reflect the ground level realities faced by a layman entrepreneur and finance professionals of this country.

Entrepreneurs of unincorporated sectors of business are  facing difficulties in running a business. But the entrepreneurs of incorporated business sector  faces difficulties from setting up the business it self

The difficulty starts from getting a name approval for a new Company or LLP. The difficulties continues while process in incorporation of Company and LLP, Change of Name, Getting approvals from MCA and so on....

We understand the PMO has entrusted the DIPP for formulating the process for Doing Business Easy in 1 Day.

Unless the office of DIPP hear the voice of entrepreneurs and professionals of this country directly, you can't formulate a policy to make DOING BUSINESS EASY IN INDIA!!

Here is our earnest endower to bring certain ground realities faced by entrepreneurs  and professionals of this country to the notice of the Honorable Ministers and office of DIPP.

We are starting a series of email submission to office of DIPP Ministry of MCA/ Finance and Commerce and its responsible officials.

Moreover we are posting all these submissions @ http://doingbusinessindiawilleverbeeasy.blogspot.in/for public access and comments

Yours faithfully

Binoy Chacko

Partner, B G & Associates, Company Secretaries &

Co-Founder of CompaniesInn.com

# 463, 10th Main |13th Cross |Wilson Garden |Bangalore -560 027

Phone +91 80 4120 7989; Mobile +91 99457 54280