The Ministry of Corporate Affairs, under the Companies Act has taken a positive step that will help entrepreneurs to register their company online within 24 hours. The government body has taken this initiative to simplify the procedure to approve incorporation application forms online. This will come effect from August 11, 2011.
Online approval of Director’s Identification Number (DIN) has already been implemented with effect from June 12, 2011. Also names of the proposed companies will also be available online from 24th July, 2011.The Ministry has already announced that the Registrar of Companies will take necessary action if any company is found to be providing incorrect information or illegal usage after giving an opportunity of being heard.