SIMPLIFIED PROFORMA FOR INCORPORATING COMPANY ELECTRONICALLY (INC-32)
January 20, 2020
As per MCA notification dated 29th December 2016, the Ministry of Corporate affair of India amended the incorporation rule and introduce new incorporation procedure called Simplified Performa for Incorporating Company Electronically (SPICe). Rule 38 has now been inserted in Companies incorporation rules, 2014 and following new e- forms has been introduced:
- INC-32 for Form for Incorporation
- INC-33 for e- Memorandum of Association
- INC-34 for e- Articles of Association
WHAT IS SPICE?
SPICe is a Simplified electronic form for Company Incorporation with a number of new functionalities, designed to facilitate ease of incorporation. Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only. It delivers five services viz. DIN, Name reservation, Incorporation, PAN and TAN by two different Ministries through the filing of a single form.
SALIENT FEATURES OF SPICE
- The standardized format of e-Memorandum of Association (eMoA) and e-Articles of Association (eAoA) as per Companies Act, 2013 as linked e-forms.
- Provision to apply for Company Incorporation with a pre-approved Company Name.
- Mandatory usage of Digital Signature Certificates (DSCs) by Subscribers and Witnesses (max 7+1) in SPICe eMOA and SPICe eAOA instead of ink signed signatures.
- Standardisation and machine tracking of changes made by stakeholders to standardised eMoA and eAoA.
- Whenever any stakeholder encounters any technical issues in using SPICe, a ticket is raised by him/her for resolution of the same. These tickets are resolved by the service provider within specified timelines.
- Dedicated e-mail and helpline facilities have also been created for resolution of any issues faced by stakeholders.
PURPOSE OF SPICe
- Ministry of Corporate affair of India introduces new forms for the following:
- Speed up the incorporation procedure. Now incorporation is possible on a single day.
- This new procedure is also cost-effective.
- Reduce the paperwork.
- Not required to submit a scanned copy of Memorandum of Association and Article of Association.
- INC- 32 is quite similar to INC- 29, which makes it simpler to fill. The only addition here is this information regarding the electronic e-MOA and e-AOA.
WHO CAN FILE THE SPICE FORM?
The following types of companies can be incorporated using the SPICe form:
- Part I Company
- Producer Company
- Section 8
- New Company(Others)
- Private Company
- Public company
- One person Company
WHEN TO FILE THE SPICE FORM?
The SPICe form needs to be filed by the companies before the incorporation of the company.
- DSC of the subscriber is compulsory.
- Maximum three Directors are allowed for using this form for filing application of allotment of DIN while incorporating a Company.
- Maximum subscribers allowed through form SPICe INC-32 is Seven. In the case of more subscribers, the Applicant has to follow normal incorporation procedure.
DOCUMENTS REQUIRED FOR SPICE FORM
The following documents must be filed with SPICe Form INC-32 for the incorporation of the company:
- Memorandum of Association – Applicable and mandatory only in case of Section 8 company or company with foreign subscribers not having DIN
- Articles of Association – Applicable and mandatory only in case of Section 8 company or company with foreign subscribers not having DIN
- Affidavit and declaration by the first subscriber(s) and director(s) – Mandatory in all cases
- Proof of office address
- NOC from the sole proprietor/ partners/other associates/ existing company
- Proof of identity and residential address of the subscribers
- Proof of identity and residential address of directors
- Copies of utility bills that are not older than two months
- Copy of approval in case the proposed name contains any word(s) or expression(s) which requires approval from central government