The most awaited amendment has been made by MCA which was related to extension of Name Reservation. On other lighter side, we may say that Govt. has turned the period of previous 60 days (prior to 20 days reservation) into more earning by breaking it into parts.
Now, Govt. has taken an initiative to extend the name reservation period from 20 days to further 20 and 40 days respectively.
Originally, the name will be given approval for 20 days and you need to submit Incorporation Application within this time period but in any case, if you are going to miss the deadline of 20 days, you have following options to choose. (Its not mandatory for all, if you want to extend the validity of your name, only then you are liable to file extension)
OPTION (1): NAME RESERVATION UP TO 40 DAYS
Within 20 days of original Name Reservation (means the date when your Name was registered originally), you may apply for extension for further 20 days with a Govt. fee of Rs. 1,000/-
So, with this view our name gets approval for 40 days with a bifurcation of 20-20 days.
OPTION (2): NAME RESERVATION UP TO 60 DAYS
Second option available to us is the reservation of Name up to 60 days included those 20 days when name was originally regd.
Here, while extending you need to choose the second option which allows you to reserve the name for further 40 days excluded those 20 days which were originally allowed by system
Overall, it is a welcoming decision as Professionals were demanded this for long, on the other hand, a new income growing source for Govt.