CRC Mismanagement, which is hampering in Ease of Doing business and governance.

[gautam singh]

CRC is failure now known to all corporates, . Many of Trademarks Registration details are wrong, CRC should do its own due dilligence before rejecting any INC 1 for name avalability. For Example Application No 518880 is Abandoned but its still shows as registered in public search. Moreever, no certificate has been issued for said trademarks.Another example is application no:835111. Application wants to register in name of "SHREE TRIPLE FILETERED GROUNDNUT OIL" trademarks records shows it as "Shree" such clerical and typing mistakes is giving undue advantage to CRC.

God save country and professionals like us. I am sure corruption angle has its own role to play in this case. 

CS Gautam

9493868241

[Naresh Kumar]

Agree with Gautam, they blindly reject the name applications with baseless reasons. 

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[gautam singh]

Thank You, Naresh. We must find some solution for this situation. Rejection should be done on valid reason. 

On Friday, September 15, 2017 at 2:26:01 PM UTC+5:30, NARESH KUMAR wrote:

Agree with Gautam, they blindly reject the name applications with baseless reasons. 

On Fri, Sep 15, 2017 at 12:50 PM, gautam singh <singhg...@gmail.com> wrote:

CRC is failure now known to all corporates, . Many of Trademarks Registration details are wrong, CRC should do its own due dilligence before rejecting any INC 1 for name avalability. For Example Application No 518880 is Abandoned but its still shows as registered in public search. Moreever, no certificate has been issued for said trademarks.Another example is application no:835111. Application wants to register in name of "SHREE TRIPLE FILETERED GROUNDNUT OIL" trademarks records shows it as "Shree" such clerical and typing mistakes is giving undue advantage to CRC.

God save country and professionals like us. I am sure corruption angle has its own role to play in this case. 

CS Gautam

9493868241

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[Rinki goyal]

EVERYONE IS FACING PROBLEM, OUR ICSI SHOULD INTERVENE AND HELP US.

RINKI GOYAL

[PAWAN KASAT]

Totally agreed with you sir,

Regards

Pawan Kasat

[Sitaram]

Very True. There should be a provision where the applicant/professional can go and meet the officer and submit his representation. In other words the CRC officer should have to compulsorily put the form for user clarification and the use should be able to meet the officer.

Govt may argue that this would lead to delays/ corruption where one is able to meet the officer, but the incorporation is better delayed than causing such embarrassment to the professionals, clients and our country's system. A rejected incorporation form would only add to further delays and confusion since the applicant will have to start all over again.

On Fri, Sep 15, 2017 at 12:50 PM, gautam singh <singhg...@gmail.com> wrote:

[krish dega]

I agree sir!.. its a serious issue.

On Fri, Sep 15, 2017 at 12:50 PM, gautam singh <singhg...@gmail.com> wrote:

[CS A Rengarajan]

Fully agreed very painful to get name I am fighting with  them for name availability. Regards

[CS SANDIP LATHIYA]

 

Good MORNING,

ITS ABSOLUTELY CORRECT,

IF YOU WANT "SHREE RADHE" NAME, THEN CRC RAISE OBJECTION ON THE SHREE INSTEAD OF "SHREE RADHE" ON TRADEMARK ISSUE, WHICH IS WRONGLY RAISE QUERY.

  

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[gautam singh]

Institute should do something, I am hopeful institute is aware about this problem.

On Friday, September 15, 2017 at 4:03:54 PM UTC+5:30, rinki mumbai wrote:

EVERYONE IS FACING PROBLEM, OUR ICSI SHOULD INTERVENE AND HELP US.

RINKI GOYAL

On Fri, Sep 15, 2017 at 2:25 PM, Naresh Kumar <upret...@gmail.com> wrote:

Agree with Gautam, they blindly reject the name applications with baseless reasons. 

On Fri, Sep 15, 2017 at 12:50 PM, gautam singh <singhg...@gmail.com> wrote:

CRC is failure now known to all corporates, . Many of Trademarks Registration details are wrong, CRC should do its own due dilligence before rejecting any INC 1 for name avalability. For Example Application No 518880 is Abandoned but its still shows as registered in public search. Moreever, no certificate has been issued for said trademarks.Another example is application no:835111. Application wants to register in name of "SHREE TRIPLE FILETERED GROUNDNUT OIL" trademarks records shows it as "Shree" such clerical and typing mistakes is giving undue advantage to CRC.

God save country and professionals like us. I am sure corruption angle has its own role to play in this case. 

CS Gautam

9493868241

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MOBILE- 9910683177

 

 

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[gautam singh]

CRC, backend team has no knowledge about trademarks and most of trademarks database in wrongly maintained. We must unite to curtail such unethicla practices by CRC.

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[DEEPAK SADHU]

I have also filed for name Application and it comes back by stating it's too general....I then resubmitted they rejected by stating again it's too general....

How to rectify this issue....

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore


“IF YOU THINK COMPLIANCE IS EXPENSIVE, TRY NON-COMPLIANCE”

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Email:    dee...@deepaksadhu.com

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csdeep...@gmail.com


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[gautam singh]

Try to raise service related complaint.It might be helpful. 

On Monday, September 18, 2017 at 10:12:25 AM UTC+5:30, Pcs_sandip Lathiya wrote:

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[DEEPAK SADHU]

Will raising complaint work out....I don't think so....How to fight for the name applied....It is not a general name....1000 rs gone for a waste

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore


“IF YOU THINK COMPLIANCE IS EXPENSIVE, TRY NON-COMPLIANCE”

Web:     www.deepaksadhu.com

Mobile:  98860 - 96664 / 86185 - 88450 / 88843 - 11947

Email:    dee...@deepaksadhu.com

             csdeepa...@gmail.com

csdeep...@gmail.com


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[anilparmar himmatlal]

God may or may not save out country but this Govt. and its desh bhakts are definitely shaving common men of this country. Only con men are benefiting.

Anil H. Parmar 

9879561685

[anilparmar himmatlal]

On Friday, September 15, 2017 at 12:50:07 PM UTC+5:30, gautam singh wrote:

[J K]

In our case 2-3 times CRC rejected name on basis on Trade Mark though the status of Trade Mark is REJECTED

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Jatin K

[Animesh Jha]

​most of the rejection is on the basis of Trademark and in 90% cases the status of Trademark is not registered.​

Regards,  

Animesh Kumar Jha Team Gupta Sachdeva & Co. Chartered Accountants +91-7352709000 | +91- 9263667007 |  connec...@guptasachdeva.com  |  www.guptasachdeva.com |  Registered office:103, Jagat Trade Centre,Fraser Road,Patna - 800001

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[gautam singh]

I raised service related complaint, i received same reply. Resubmission with required noc. I think legal proceeding is the only option left. Trademarks registry personnel are not responding.

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[gautam singh]

I Request all professionals to send email to tapa...@nic.in and pres...@icsi.edu stating your difficulty. I have sent an email to both email address. Please do your part.

[Narayan Sharma]

Yes, I too hold same experience.Getting a Company name now a days is a challenge. Earlier, we use to provide an affiadavit that if the applied name is found registered under the trademark, the Company shall immediately change its name and shall own complete responsibility of any fall out consequences. But nothing works in CRC. Already Company incorporation is recording a downward trend and  CRC is adding more frustration to it. 

Regards

CS Narayan Sharma

On Friday, September 15, 2017 at 12:50:07 PM UTC+5:30, gautam singh wrote:

[gautam singh]

Absolutely correct, please send an email to tapa...@nic.in and presiden...@icsi.edu . I am hopeful, we may find some solution to it.Remember unity is key to success.

[DEEPAK SADHU]

One more name rejected today....Do we write to secretary MCA

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore


“IF YOU THINK COMPLIANCE IS EXPENSIVE, TRY NON-COMPLIANCE”

Web:     www.deepaksadhu.com

Mobile:  98860 - 96664 / 86185 - 88450 / 88843 - 11947

Email:    dee...@deepaksadhu.com

             csdeepa...@gmail.com

csdeep...@gmail.com


Pvt Ltd, Public Ltd Company/LLP/NBFC/Chit fund Companies Registrations | Consultation on Companies Act, 2013 | Start-ups advisory services | Secretarial Compliance & Services | ROC, NCLT, RD Compliances | Corporate Governance | GST Registrations & Returns | XBRL Filings | Listing Regulation Compliances | RBI / FEMA Compliances | Closure of Companies/LLP's |Labour Laws licence and Compliance | Trademark Registrations

 

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[gautam singh]

Please let me know, if you have any other option left ? Its not a one time work for us, so we must try to get it resolved. 

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[cspaya...@gmail.com]

Dear sir,

We have applied for name application for change of LLP into Private limited company. name of company 

ex: XYZ Buidcon LLP

1st time : resubmission was given on grounds 

“Proposed Name is nearly resembled with existing company name " Big XYZ BUILDCON PRIVATE LIMITED" Please re-submit with six alternate names with different prefix word for further processing”

we resubmitted with clarification letter that for conversion llp has to apply for same name only but they did not considered our letter and rejected our form. 

2nd time: after few days as client insisted we submitted eform inc-1 again with different names of llp for conversion. Then also form is given for resubmission wilth following message

“All proposed names are different from the name of the existing LLP for conversion; Thus, provide the proposed names similar to the name of the existing LLP for conversion. Thus, all the proposed names are not considerable. . Please Resubmit.”

Earlier we were not allowed to apply for same name and now they are asking for same name of llp. 

Due to some technical error now INC-1 our same existing name of llp is not accepted in the INC-1 and showing following prescrutiny error. It will show in every company going for this now.

“proposed name is similar to the name of existing company / LLP ‘ XYZ Buidcon LLP’ in accordance with rule 8 (1)(a) of the Companies (Incorporation) Rules, 2014 “

we tried to contact CRC helpdesk. They could not solve our error and replied as follows:- 

Dear Sir/Madam,

Please be clarified that presently there is no process for LLP to company conversion directly and system cannot identify whether LLP applying for company incorporation is same or some other person applying for already existing LLP name.  Hence if the proposed company wants to apply for a name (of an existing LLP) system (INC-1) checks whether same name is already given to an LLP. It is also pertinent to mention that there is no field in the form where user can mention that LLP is trying to convert hence system stops from filing the form in case name matches with any active LLP or company.

For further clarification, Please write a formal mail to MCA HQ. 

Thank You

Headquarters are not taking anyinterest in solving the  issue. Our client is suffering from last two months to get single name for conversion of llp into co.

Can anyone advise what we can do further in this matter.

If we want to further appeal somewhere in court or nclt is there any scope to appeal further. 

Your reply will be helpful.

On Friday, September 15, 2017 at 12:50:07 PM UTC+5:30, gautam singh wrote:

[gautam singh]

Please write a mail to MCA Head Quarter and our ICSI, president wait for their action (Maximum 7 days). If any action is intiated by them very good, otherwise appealing in court in one of the best option. In past also we have seen court has granted relief to petitioner. We have all proofs, their is nothing wrong in approaching judiciary. In fact i am planning to approach court. I have sent a e-mail to PMO in this regard. 

[CS SANDIP LATHIYA]

 

Good MORNING,

MAY BE OUR COMPLAINT REACH AT MCA, THEY WANT OUR SUGGESTION FOR NAME RESERVATION AND INCORPORATION PROCEDURES TO DO EASIER PROCEDURE OF  INCORPORATE COMPANY.

Give suggestion to MCA in following Format, and sent mail to 

comments.nam...@mca.gov.in

Serial Number	Rule Number	Suggestion/Comments	Justification
1.	Rule 8(2)(a)(ii) of Rules [ Chapter II The Companies (Incorporation) Rules, 2014 ]

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[Pcs_sandip Lathiya]

Find Attached letter of MCA

[siddharth mittal]

Hello members,

Even I had faced the same problems, The CRC team rejected my 12 names...and granted  me one names that too after making resubmissions.. What more... My client wrote to MCA Secretary...and all possible people but received one email from mca that the name you applied is TOO General...til then.. i have found the meanng of this TOO general in Companies Act or in any rule....They abruptly reject names and as all of you might/must be aware..its all money's game......

In my opinion Institute is not taking any action......

I s there any way out we can do something....

Members views are solicited....

Regards,

Siddharth Mittal,

M Siddharth & Associates

(Company Secretaries)

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On 27 September 2017 at 10:17, Pcs_sandip Lathiya <pcssa...@gmail.com> wrote:

Find Attached letter of MCA

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[Manish Saini]

My Personal Experience in getting a Foreign Subsidiary company in Delhi:

25-08-2017 : INC-1 applied, name approved with not much hassle.

08-09-2017: Spice INC-32 is filed after obtaining Notarised / appostilled documents. 

09-09-2017: Rseubmission came stating that NOC for registered office to be signed by both persons whose name appear on Electricity bill and Foreign Nationals Documents are to be Appostilled / consularised. Form is resubmitted by getting the NOC as per the requirement and Clear scan of the Documents already appostilled from Notary Public (Attaching the same documents). Within 30 minutes we again got a re-submission that our DIR-2 and PAN undertaking are not clear(which were already clearly scan)

10-09-2017: Now again the form is resubmitted till date and this time the form is under "pending for approval"

Contacted helpline 0124-4832500 that CRC is having and raised tickets also but reply we got that the form is not opening due to technical reasons and they have contacted their Technical team to open the form. 

Somehow we manged to get contact numbers of two persons (tout) who have link in the CRC - Manesar, Haryana.

A heinous crime .... They told us that the INC-1 is withheld on the grounds of similar Trademarks and similar names already existing citing reason that the name is too general etc. and this is done with the motive to get Rs. 3,000/- to 8,000/- to obtain the Desired name (No matter what the similarity or resemblance is) and Rs. 7,000/- to Rs. 15,000/- for the COI asap.

One Told us  50,000/- to get the the COI in one day itself and one told us Rs. 35,000/- for next day. I told them that the foreign nationals wont be paying this much and intimidated The Indian Director about the whole situation. He came down angrily and wanted to talk to that person, he talked and came to the Price of Rs. 17,000/-

They also told us that our case was already clear since the beginning but as the INC-1 could not be asked for re submission as the name applied is Unique and innovative. They have done in SPice form on purpose as hefty amount of stamp duty is involved and the foreigners want their company to be incorporated at any cost and the refund of duty paid will take time of 5-6 Months. 

And for this the Tout has given his bank account number to transfer the right now and continuously calling in to upload the Form again as they have sent the form for resubmission for the THIRD time on 12.09.2017

Form is uploaded. payment is made to the person in his bank account.

and Company is Incorporated.

There are touts in the CRC which is hampering the work flow and creating havoc.

[purnima.marla]

Dear All,

I think ithis is a serious issue and bought to the notice of ICSI President and we should request him to find a solution in this matter.

This becomes  a major problem while incorporating a foreign subsidiary as receipt of apposititled documents from foreign parties is such a hassle. Also MCA helpdesk is manned by people who generally do not have any answer for our queries and their only reply seems "RAISE A TICKET"

Professionals have to waste their time running after one thing because of such callous attitude of the MCA people. Professionals need to be united in fighting this in some concrete manner.

Regards

Purnima

[cspar...@gmail.com]

I have applied for one name and they asked for resubmission and then after resubmission they rejected stating trademark and name too general. Thereafter once again I have applied for same name and they asked for resubmission

Then I have resubmitted the same name which was rejected earlier. That was approved. 

Also one client has trademark registered in his name and when I have applied with NOC and TM reg certificate they have rejected the name application saying similar name exists and the name they have give as similar has no matching with the name applied.

[DEEPAK SADHU]

Very bad service we need to write to icsi president and also to ministry.....It will continue....We all need to boycott very strongly

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore


“IF YOU THINK COMPLIANCE IS EXPENSIVE, TRY NON-COMPLIANCE”

Web:     www.deepaksadhu.com

Mobile:  98860 - 96664 / 86185 - 88450 / 88843 - 11947

Email:    dee...@deepaksadhu.com

             csdeepa...@gmail.com

csdeep...@gmail.com


Pvt Ltd, Public Ltd Company/LLP/NBFC/Chit fund Companies Registrations | Consultation on Companies Act, 2013 | Start-ups advisory services | Secretarial Compliance & Services | ROC, NCLT, RD Compliances | Corporate Governance | GST Registrations & Returns | XBRL Filings | Listing Regulation Compliances | RBI / FEMA Compliances | Closure of Companies/LLP's |Labour Laws licence and Compliance | Trademark Registrations

 

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[Prasanna Nagure]

I thought I was the only one with CRC.

We are incorporating a company.
The name application was rejected for a surprisingly stupid reason. The reason given by CRC was the name had British India in the name. To our surprise the name we applied had British India.
I think they rejected our application thinking of it of someone else's.
This is not right and not atall professional especially from MCA.
These people need training and must learn to do their job correctly.

[Vivek Hegde]

Dear Prasanna,

Please refer to the provisions of incorporation rules as below:

2) (a) The name shall be considered undesirable, if-

vii) the proposed name contains the words ‘British India’;

Warm Regards

CS Vivek Hegde, FCS, CMA

*******************************

Vivek Hegde & Co.

Company Secretaries
Off: No.86, 1st Floor, 2nd Main, Samvruddhi Enclave

Kumaraswamy Layout 2nd Stage , Bangalore-560061

Mob: +91 9900898223; Off: +9180 26663577

*******************************

[Prasanna Nagure]

Vivek Sir,

The names we applied for didn't have British India in any of them.

It was a mix up on the part of MCA. Someone else had applied for it in their application. Instead of sending resubmission to them our application was sent back.

[Viral Sanghavi & Associates PCS - Jamnagar]

Everyone is fed up with CRCs.

Our profession is at stake, because already there is downtrend in company incorporation and above that there is problem in name approval. they are making money like anything. and we are suffering here, blamed by client for our non-service or non-ability to get name approval.

need to start some online petition or such thing.

Best Regards

CS Viral B Sanghavi
Practising Company Secretary

Viral Sanghavi & Associates
303, 3rd Floor, Madhav Plaza, Near Lal Bunglow, Opp State Bank of India, 

Jamnagar - 361001, Gujarat. (M) +91 99989 58729 (O) +91 94264 71284

(E)  cs.viral...@gmail.com & cs.viral...@yahoo.com

The Only difference between Dreams & Achievements is, "Hard Work"

Contact Info QR Code :- 

[gautam singh]

I have sent an email to our institute president in this regard, I am yet to receive his reply. We need to find solution for this as soon as possible. In my opinion approaching to judiciary is the only option left with us. Neither Trademarks registry officials are responding to our query. Cost of legal proceeding should be contributed by us, ultimately we professionals wil be ultimate beneficiery. 

If other members of this group has any better solution for this problem, please do share your suggestion in group. 

[CS Sahil Mahajan]

Dear Members

Can u share me format of DIR-2 as per rule 17 of the companies (incorporation) rules, 2014 and its format should be as per rule 8 of companies (appointment and qualification of directors)rules, 2014. As I got resubmission mail wherein it is written that "DIR-2 should be provided as per rule 17 of the Companies (Incorporation) Rules, 2014 and its format should be as per

rule 8 of Companies (Appointment and Qualification of Directors)Rules, 2014." 

I have incorporated n no of companies but no one has raised such pathetic defects. I am sharing DIR-2 which i have filed can you please check DIR-2 and let me know if anything which needs to be altered? 

  

Sahil Mahajan

Sahil Mahajan & Associates

Company Secretaries

SCO 276, Mohan Market, Dalhousie Road 

Pathankot-145001

(M) 9888164041

[DEEPAK SADHU]

Everything seems fine with DIR-2 why CRC has rejected....Nowadays CRC is acting horribly bad....rejection of all the names applied

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore

“IF YOU THINK COMPLIANCE IS EXPENSIVE, TRY NON-COMPLIANCE”

Web:     www.deepaksadhu.com

Mobile:  98860 - 96664 / 86185 - 88450 / 88843 - 11947

Email:    dee...@deepaksadhu.com

             csdeepa...@gmail.com

Pvt Ltd, Public Ltd Company/LLP/NBFC/Chit fund Companies Registrations | Consultation on Companies Act, 2013 | Start-ups advisory services | Secretarial Compliance & Services | ROC, NCLT, RD Compliances | Corporate Governance | GST Registrations & Returns | XBRL Filings | Listing Regulation Compliances | RBI / FEMA Compliances | Closure of Companies/LLP's |Labour Laws licence and Compliance | Trademark Registrations

 

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[Animesh Jha]

Dear Sahil,

PFA

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Regards,  

Animesh Kumar Jha Team Gupta Sachdeva & Co. Chartered Accountants +91-7352709000 | +91- 9263667007 |  connec...@guptasachdeva.com  |  www.guptasachdeva.com |  Registered office:103, Jagat Trade Centre,Fraser Road,Patna - 800001

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On Wed, Nov 1, 2017 at 11:38 AM, CS Sahil Mahajan <cssahil...@gmail.com> wrote:

[Vaishali Patrikar]

Self attested Id and address proofs required with Dir2.

Vaishali

[CS Sahil Mahajan]

I attached self attested Aadhar Card copy as I'd proof and copy of bank statement of each director

Sahil Mahajan
Sahil Mahajan & Associates
Company Secretaries

SCO 276, Mohan Market Pathankot-145001
9888164041

On 3 Nov 2017 4:15 p.m., "Vaishali Patrikar" <vapat...@gmail.com> wrote:

This message is eligible for Automatic Cleanup! (vapat...@gmail.com) Add cleanup rule | More info

Self attested Id and address proofs required with Dir2.

Vaishali

On 01-Nov-2017 11:38 am, "CS Sahil Mahajan" <cssahil...@gmail.com> wrote:

[Durga Bansal]

For the SPICe Form, The list of attachments given is too long as compared to the maximum form size to be uploaded with the Dept. We have to compress each and every file too many times to keep the form size within the maximum limit. And still it is impossible to keep the mouth of the Officials shut.

CS DURGA BANSAL

D*Bansal*

[Viral Sanghavi & Associates PCS - Jamnagar]

I think for SPICe forms, there is no need to attach any proof at all.

Best Regards

CS Viral B Sanghavi
Practising Company Secretary

Viral Sanghavi & Associates
303, 3rd Floor, Madhav Plaza, Near Lal Bunglow, Opp State Bank of India, 

Jamnagar - 361001, Gujarat. (M) +91 99989 58729 (O) +91 94264 71284

(E)  cs.viral...@gmail.com & cs.viral...@yahoo.com

The Only difference between Dreams & Achievements is, "Hard Work"

Contact Info QR Code :- 

[cspar...@gmail.com]

I have uploaded SPICE forms for incorporation of NIDHI company and they asked for resubmission stating the address proofs are required and I have resubmitted the form with all attachments. But now they have asked for 

As per rule 6 and rule 10 of Nidhi Rules, 2014, a Nidhi company cannot issue preference shares, debentures, open any current account or carry on the business of chit fund, hire purchase
finance, leasing finance, insurance or acquisition of securities or take deposits from or lend money to any body corporate or enter into any partnership arrangement in its borrowing or lending activities or cause to be issued any advertisement for soliciting deposit or pay any brokerage for mobilising deposits or open any branch outside the State where the registered office is situated.

 

Remove such activity(ies) from MoA & also Delete Point no. 8 from CLause3(b) of MOA.

CLAUSE I HAVE GIVEN IN SPICE MOA:-

MAIN OBJECT

1. To encourage and afford all facilities for cultivating and propagating thrift, saving habits and to render all financial assistance to its members by receiving long and short term deposits and in particular Savings, Recurring, Fixed and other deposits from members as are allowed by law. The company, however, shall not do banking business as defined in Banking Regulation Act 1949, and also the business in the form of Chits, Financing, Insurance, Leasing and Hire Purchase and also trafficking in shares.

2. To lend, grand loans to the members on the security of immovable properties either by way of registered mortgage or by deposit of title deed, various types of deposit receipts, movable assets such as gold, silver, jewellery, Kisan Vikas Patras, National Savings Certificates, Insurance Policies, Government Securities and other securities on favourable rates of interest.

CLAUSE 3 (B) POINT NO 8 IS

8. To pay out of the funds of the Company all expenses of and incidental to the formation, registration, advertisements and establishments of the Company.

SO THEY ARE STATING THAT INCIDENTAL EXPENSES OF INCORPORATION SHOULD NOT BE REFUNDED TO THE PROMOTERS FROM THE FUNDS OF COMPANY.

CRC making all of us mad by such comments on incorporation forms.

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