Corporate Affairs Ministry to fast track name reservation of companies; heres how

According to one estimate, there are around 12 lakh active companies

Corporate Affairs Ministry to fast track name reservation of companies; heres how

The central government is all set to bring in changes in the registration process for new companies to make it faster and more user-friendly.

According to sources, the applicants would be required to feed in only “need-based” information.

Corporate Affairs sources said that the need-based information would help the applicants to at least reserve the name of the company.

A new name reservation service is being developed and is likely to be in place on January 26, according to information on the ministry’s website.

According to one estimate, there are around 12 lakh active companies.

On Friday, the ministry launched a corporate data portal through which stakeholders can soon have customized data on corporates including about independent directors.

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