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Incorporation is the formation of a new company (A legal entity that is effectively recognized as a person under the law). The company can be a business, a startup, a micro small, or medium scale business. MCA regulates the affairs of the companies registered in India through the Companies Act, 1956, 2013, and other relevant bills and rules. The Ministry of Corporate Affairs has a regulatory framework set up that is to be considered while naming the company. If the name of the company does not fall under the rules set by MCA then the application may get rejected.
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The Ministry of Corporate Affairs is governed by the finance minister of the Government of India. The Ministry of corporate affairs is mainly responsible for the regulation of the Indian enterprises that are operating in the industrial and service sectors.
The Ministry of Corporate Affairs is primarily concerned with administration of the Companies Act 2013, the Companies Act 1947, the Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016. It is responsible mainly for the regulation of Indian enterprises in the industrial and services sector. The ministry is mostly run by civil servants of the ICLS cadre. These officers are elected through the Civil Services Examination conducted by Union Public Service Commission. The highest post, Director General of Corporate Affairs (DGCoA), is fixed at Apex Scale for the ICLS.
The Registrar of the Companies (ROC) across Indian expects the applicant to follow certain criteria while naming a Company. The approval is also subject to the officer handling the application. The more closely the rules that are listed are followed the better are th4e chances of getting the name of the Company approved.
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