The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) has recently introduced SPICe Form INC-32, which is a Simplified Proforma for Incorporating Company Electronically (hereinafter referred to as the “SPICe Form”) through Companies (Incorporation) Fourth Amendment Rules, 2016.
SPICe Form can help incorporate a company with a single application for reservation of name, incorporation of a new company and/or application for allotment of DIN. The SPICe Form INC-32 is very similar to Form INC-29, which also helps with fast track incorporation of a company in India. The Integrated Form INC-29 has been replaced with the SPICe Form and the Form INC-29 has been completely removed from the MCA portal.
Purpose of the SPICe Form
SPICe Form deals with the single application for reservation of name, incorporation of a new company and/or application for allotment of DIN and/or application for PAN and TAN. The SPICe Form is accompanied by supporting documents including details of Directors & subscribers, MoA and AoA, etc. Once the SPICe Form is processed and found complete, company would be registered and CIN would be allocated. Also DINs gets issued to the proposed Directors who do not have a valid DIN. Maximum three Directors are allowed for using this integrated form for filing application of allotment of DIN while incorporating a company. Also PAN and TAN would get issued to the Company.
Types of Companies which can be incorporated
SPICe Form can incorporate a company quickly by integrating many of the steps into a single process. The following types of companies can be incorporated in India:
- Section 8 Company
- Producer Company
- Private Limited Company
- Public Limited Company
- One Person Company
Declaration by Professional
The digital signature of a professional (Chartered Accountant/ Company Secretary/ Cost Accountant/ Advocate) is required to file Form INC-32. The professional must declare that all information presented in the form is correct and enter his/her membership number and certificate number.
Documents required for SPICe Form
The following documents must be filed with SPICe Form INC-32 for incorporation of 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) 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
If the proposed name is based on a registered trademark or is subject matter of an application pending for registration under the Trade Marks Act, then it is mandatory to attach the trademark registration certificate or trademark application copy.