AS we know that government is in continuous process of simplifying the process of registration and ease of doing business in india. Keeping a move further ahead, mca has issued below mentioned news on mca.gov.in which facilitate the account opening at the time of incorporation.

(i) Stakeholders may please note that as part of Government of India’s Ease of Doing Business(EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form.

(ii) SPICe+ would be an integrated Web form offering multiple services viz. name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account. It will also facilitate allotment of GSTIN wherever so applied for by the Stakeholders. After deployment of SPICe+ web form, RUN shall be applicable only for change of name of existing companies.

(iii) Upon notification & deployment, all new name reservations for new companies as well as new incorporations shall be applied through SPICe+ only

(iv) However, incorporation of companies for names reserved through the existing RUN service shall continue to be filed in the existing SPICe eform along with related linked forms as applicable and if marked under resubmission shall be resubmitted in SPICe eform.

Source: www.mca.gov.in

Ex-DEA secretary S C Garg has said that the high-value notes can be demonetised without causing any disruption. He claimed that the Rs 2,000 notes may not have been in circulation much now as they have been hoarded by people.

As per Garg Estimate, there are about one-third of 2,000 currency notes in circulation in value terms .

New Rs 2,000 currency was come into force when the demonitisation was took place in November 2016. It is now 3 year has been completed.

“A good chunk of Rs 2,000 notes are actually not in circulation, having been hoarded. Rs 2,000 note, therefore, is not presently working as a currency of transaction,” he said advocating that they may be demonetised or withdrawn from circulation.

“It can be demonetised, without causing any disruption. A simple method, depositing these notes in the bank accounts (no counter replacement), can be used to manage the process,” he said.

The MCA has asked disqualified directors to file their pending statutory returns as required under the companies act 2013 and ensure compliance of companies or else face regulatory action. As part of larger crackdown on companies suspected to be shell entities, the ministry had disqualified many individuals from holding directorship till compliance with regulatory requirements is fulfilled.