SPICe Forms
Integrated process for Incorporation of companies--SPICe
Pragya Lalwani
1. Introduction
Recently Ministry of Corporate Affairs has taken a bold initiative in Government Process Re-engineering by introducing SPICe (Simplified Proforma for Incorporating Company Electronically) forms w.e.f. 2nd of October, 2016 for providing speedy incorporation of companies and related services thereto in line with international best practices. SPICe forms includes Form No. INC-32 for incorporation of company electronically, Form No. INC-33 as electronic form of Memorandum of Association (e-MoA) and Form No. INC-34 as electronic form of Articles of Association (e-AoA). Further, MCA has notified amendments in Companies (Incorporation) Rules, 2014 for application of SPICe forms which came into effect from 1-1-2017--vide Companies (Incorporation) Fifth Amendment Rules, 2016 dt. 29-12-2016. Implications of these amendments are highlighted in this Article. Implications of these amendments are highlighted in this Article.
2. USP of SPICe as per Ministry of Corporate Affairs
1. Simplified and completely Digital form for Company Incorporation
2. Standard format of e-Memorandum of Association provided as per Companies Act, 2013
3. Standard format of e-Articles of Association provided as per Companies Act, 2013
4. Memorandum and Articles of all companies except section 8 companies will be filed as linked e-forms
5. Company already having its name approved can also apply for incorporation of company through e-form SPICe
6. DSCs of Subscribers and Witnesses (max 7+1) mandatorily to be affixed in SPICe MoA and SPICe AoA
7. Back Office productivity gains due to faster review of e-MOA and e-AOA by approving authorities.