Ministry of Corporate Affairs (MCA) has established the Central registration Centre and vide notification dated 01/10/2016 had introduced SPICe Form for the purpose of incorporation of companies. Moreover, It stands for “Simplified Proforma for Incorporating Company electronically”.
Also, SPICe integrates the allotment of Directors Identification Number (DIN), Name Approval, Incorporation certificate, Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) allotment under a single form.
Further,This procedure is less time consuming, and now it is simpler and easier to carry on the process as it uses digital technology and databases to incorporate companies. Moreover, SPICe can only be filed online from MCA site using available auto generated forms with reduced fee.
Furthermore, newly introduced SPICe (INC-32) by MCA is a simpler version of registration of companies in India. Also, MCA has replaced INC-29 with INC-32 with linked forms for eAoA (INC-34) and eMoA (INC 33).
Who can apply using SPICe Form?
- Company incorporating under Section 8
- Producer company
- Private Limited Company
- Public Company
- One Person Company
What are the documents required for SPICe Form?
The following documents must be filed with SPICe Form INC-32 for incorporation of a 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 first subscriber(s) as well as director(s) – Mandatory in all cases
- Also, Proof of office address
- NOC from the sole proprietor/ partners/other associates as well as existing company if any
- Proof of identity as well as residential address of the directors
- Proof of identity and also the residential address of subscribers
- 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
How is SPICe Incorporation different from Normal Incorporation Process?
|Particulars||Simplified Proforma of Incorporation of Company||Normal Incorporation Process|
|No of Forms||1 (ONE)||5 (FIVE)|
|Steps of Incorporation||Single step of Incorporation||Three steps incorporation|
|Form Filing Requirement||Only one Form INC-32.||DIR-3- Application for DIN (3 DIN)
INC-1 – Application for Name Approval
INC-7 – Incorporation of Company
DIR-12 – Appointment of First Directors
INC-22 – Situation of Registered Office
|Resubmission||Two resubmissions are allowed||Only One resubmission is allowed|
|PAN and TAN||PAN and TAN applications are mandatory to be filed and uploaded on MCA||No facility to obtain PAN and TAN|
|MoA and AoA||electronically||After name approval letter from ROC MoA and AoA are required to be drafted and stamped. Stamp duty is payable which depends on authorized share capital.|
What are the drawbacks of using SPICe?
SPICe has a major drawback that if the name of the company is not approved then you have to newly submit all the Incorporation documents.
Only ONE name can be applied for in SPICe(INC-32). You may use INC-1 in which up to six names can be proposed and then input the SRN of INC-1 into SPICe.
In case of rejection of form the company can apply for the refund of money by filing the “form refund”.
Yes, it is mandatory to use eMoA and eAoA (if using the INC-32 form) for all Indian subscribers, foreign individuals with a valid DIN, and where the number of subscribers is not more than seven. there is no requirement of physical copies of the same.
Yes, DSC is mandatory for all subscribers and witnesses in eMoA(INC-33) and eAoA(INC-34). eMoA as well as eAoA shall be used only where the maximum number of subscribers does not exceed 7. If the number of subscribers is more than 7, MoA and AoA shall be attached manually to SPICe and DSC is not mandatory in such cases.
MoA, as well as AoA, shall be filed as attachments with SPICe form in case of more than seven subscribers.