SPICe (e-Form 32) - A Simplified Way of Company Incorporation Process

SPICE - or Simplified Proforma for Incorporating Company Electronically

SPICe: A simplified company incorporation process through a new online application form, INC-32, in addition to online application forms for Memorandum of Association (form INC-33) and Articles of Association (INC-34).  

What’s New?

With the SPICE initiative, and the introduction of INC-32, the approval time should be much shorter. This is because the new system facilitates the filing of Memorandum and Article of Association electronically. This makes it a completely hassle-free company registration process.  For reservation of a name prior to filing SPICe (INC-32), you may use INC-1 (in which up to 6 names can be proposed) and then input the SRN of approved INC-1 into SPICe.

SPICe Forms can be used for Incorporation of:

  • Private Company (No. of subscribers less than seven)
  • OPC
  • NIDHI Company

Key Features:

- ROC Fee only Rs. 500/-

- E-filing of Pre-Drafted Memorandum (e-Form INC-33)

- E-Filing of Pre-Drafted Article (e-Form INC-34)

E-Form INC-32 can be filed even if you have applied for the name of the company through INC-1 already (by inserting SRN No. generated through INC-1 in Form INC-32).

- The same INC-1 SRN No. shall be used for filling For INC-33 and INC-34.

- The signatures digital signatures of subscribers and witness can be affixed with INC-33 and INC-34.

- Photos of Subscribers not required.

- No Physical copy of MOA or AOA required to be attached.

- It is not attachment of proof of identity and residence in respect of a subscriber having a valid DIN.

- Maximum size of upload is 6 MB.

- Only Two resubmission permitted.

Important:

  • Only one name can be applied in Form INC-32. However, for reservation of a name prior to filing SPICe (INC-32), you may use INC-1 (in which up to 6 names can be proposed) and then input the SRN of approved INC-1 into SPICe.
  • INC-22 not required to be filed with SPICe (INC-32) if a company is registered with address for correspondence only (in INC-32). INC-22, is required to be filed within 30 days of its incorporation, for intimating the registered office address.
  • Approved e-MOA (INC-33) and e-AOA (INC-34) certified copies facility available on MCA.
  • PAN and AADHAR is mandatory. The companies (incorporation) rules notified has liberalized many requirements in respect of Proof of Identity and Proof of residence in respect of Subscribers and Directors. The Companies (Incorporation) third Amendment Rules dated 27th July 2016 has relaxed the mandatory attachment of proof of identity and residence in respect of a subscriber having a valid DIN.
  • For incorporation of producer companies, unregistered companies and companies being formed with more than 7 subscribers, new version of INC-7 shall be used.
  • If a body corporate is one of the subscribers/promoters, DSC of an authorized Director can be affixed on forms.
  • Foreign subscribers having valid DIN can file SPICe (INC-32) with eMoA (INC-33) and eAoA (INC-34) as linked forms. However, in case of foreign individual subscribers without a valid DIN, form INC-7 shall be used with physical MoA and AoA.
  • SPICe AoA (INC-34) has facility for adding, modifying, deleting and entrenching Articles.
  • Yes, SPICe AoA has facility for adding, modifying, deleting and entrenching Articles.
  • INC-7 shall be used for Subscribers more than seven. 
  • In case subscribers is a foreign national outside India, his signatures and address etc. shall be witnessed by a Notary Public/Embassy/Consulate offices then, SPICe (INC-32) shall be filed with manually signed and duly attested MoA and AoA.
  • DSC is mandatory for all subscribers and witnesses in eMoA (INC-33) and eAoA (INC-34). eMoA and eAoA shall be used only where the maximum number of subscribers do not exceed 7. In case the number of subscribers are more than 7, INC-7 shall be used and DSC is not mandatory in such cases.
  • SPICe cannot be used for resubmitting incorporation application filed in form INC-2/7 earlier. However, form INC-2/7 shall be available for resubmission cases only for a period of 15 days from the date the form was sent for resubmission by CRC.
  • Two resubmissions are permitted for SPICe forms.
  • Now, OPC can be incorporated using SPICe forms.
  • LLPs can’t be incorporated using SPICe forms.
  • SPICe eMoA and eAoA have to be uploaded as ‘Linked Forms’ to SPICe (INC-32).
  • eMoA and eAOA would be witnessed after all subscribers have signed as is happening presently, this will ease in where subscribers are at different places.
  • Services of refund is applicable if SPICe forms get rejected.
  • Maximum Size for upload is 6 MB.
  • NIDHI Company can be incorporated using SPICe forms.

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CS Alok Kumar 
on 10 January 2017
Published in Corporate Law
Views : 1808
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