Announcement regarding ‘Extend’ functionality introduced in SPICE+ Part A w.e.f. 26th January, 2021

NON-ACADEMIC ICAI UPDATE (NOT RELEVANT FOR EXAMS BUT FOR GENERAL AWARENESS)

CA Study

Hello Everyone,

Please find text of the Announcement regarding ‘Extend’ functionality introduced in SPICE+ Part A w.e.f. 26th January, 2021 notification below –

Announcement regarding ‘Extend’ functionality introduced in SPICE+ Part A w.e.f. 26th January, 2021

Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India

30^th  January, 2021

ANNOUNCEMENT

Sub: ‘Extend’ functionality introduced in SPICE+ Part A w.e.f. 26^th January, 2021

This is to inform you that the Ministry of Corporate Affairs has introduced new “extend” functionality in e-form SPICE+ Part A with effect from 26th January 2021.

This change has been brought in line with Rule 9A ‘Extension of reservation of name in certain cases’ of the Companies (Incorporation) Rules, 2014 which is inserted w.e.f. 26^th January 2021

Accordingly, Applicants who are allowed name for company, may place the request for extension of name allowed, by using web service SPICe+ and the Registrar shall extend the period of a name reserved under rule 9 by upto:

1. 40 days from the date of approval under rule 9:

on payment of fees of Rs 1,000 made before the expiry of 20 days from the date of approval under rule 9;

2. 60 days from the date of approval under rule 9:

on payment of fees of Rs 2,000 made before the expiry of 40 days referred to in clause (a) above;

3. 60 days from the date of approval under rule 9:

on payment of fees of Rs 3,000 made before the expiry of 20 days from the date of approval under rule 9

However, the Registrar shall have the power to cancel the reserved name in accordance with section 4(5) of the Act.

Announcement is available at the link- http://mca.gov.in/

An Announcement in respect of Rule 9A, has also been hosted on the ICAI website. Link for the same is – https://resource.cdn.icai.org/62578clcgc50615.pdf

Members may note the above.

Sincerely Yours,

Chairman and Vice Chairman

Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India

Official Link of Announcement regarding ‘Extend’ functionality introduced in SPICE+ Part A w.e.f. 26th January, 2021 notification can be accessed from below –

https://www.icai.org/resource/62886clcgc300121c.pdf

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Jai Hind, Vande Mataram
Team CA Study