MCA proposes 2 e-forms, DIN cap to 5 in India
Starting a company in India might soon get a lot easier.
The Ministry of Corporate Affairs is looking to cut down paperwork by merging multiple forms into just two simple e-forms, and the cap on the number of directors for whom a DIN can be applied at incorporation is proposed to be raised to five from three.
MCA seeks feedback by May 9
The new rules also mean less hassle with know-your-customer (KYC) checks and fewer documents needed overall.
Nonprofits (Section 8 companies) could get more flexibility too: they may be allowed to switch from "limited by guarantee" to "limited by shares," making it simpler for them to raise funds without losing their nonprofit status.
The Ministry wants feedback on these changes by May 9, so there's still time for your voice to count.