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1. What is Form URC 1? 

URC 1 is a form filed by a company pursuant to Section 366 of the Companies Act, 2013 and Rule 3(2) of the Companies (Authorised to Registered) Rules, 2014. URC-1 has to be filed 20 days from the date of approval of RUN. In case 20 days expired from the date of approval of RUN, this form cannot be filed. This section deals with the Companies capable of being registered under the Act. This section corresponds to section 565 of the Companies Act, 1956, but with a much broader definition. Companies which can register Under Section- 366 of the Act: Any company formed, whether before or after the commencement of this Act, in pursuance of any Act of Parliament other than this Act or of any other law for the time being in force or being otherwise duly constituted according to law, and consisting of two or more members, may at any time register under this Act as an unlimited company, or as a company limited by shares, or as a company limited by guarantee. 

2. Why is it important? 

Any partnership firm, limited liability partnership, cooperative society, society or any other business entity formed under any other law for the time being in force consisting of seven or more members, may at any time register itself under Companies Act, 2013 as a Part I Company. For this purpose, eForm URC-1 shall be filed along with eForm INC-7.

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