Write short notes on the following: RUN

RUN (Reserve Unique Name) RUN (Reserve Unique Name) is a process for reserving a name for a new company or for change of name of an existing Company. An application for reservation of name shall be made through the web service available at www.mca.gov.in by using form RUN (Reserve Unique Name) along with fee which may either be approved or rejected, as the case may be, by the Registrar, Central Registration Centre after allowing re-submission of such application within fifteen days for rectification of the defects, if any. The name approved under RUN Process for new Company registration is valid for a period of 20 days from the date of approval. In case of change of name of an existing company, the name shall be valid for 60 days from the date of approval.