It is well Known that Current Government is Considerably working towards promotion of Ease of Doing Business in India. Pursuant to same the Ministry of Corporate Affairs has introduced a vital amendment.
As per the amendment to the Companies (Incorporation) Second Amendment Rules, 2019 dated 06.03.2019, MCA has revised the limit of Rs. 10 Lacs to Rs. 15 Lacs.
Last year on 26.01.2018, while introducing Spice forms for incorporation of companies with the intent of ‘Ease of Doing Business’, MCA implemented the rule of Incorporation with Zero fees for the proposed companies with a nominal capital of less than or equal to Rs. 10 Lacs and in respect of proposed companies not having share capital, whose members does not exceed 20. Now with effect from 18.03.2019, this limit of 10 lacs has been revised to Rs. 15 lacs.