{"id":2695,"date":"2016-10-03T18:13:52","date_gmt":"2016-10-03T18:13:52","guid":{"rendered":"https:\/\/sunkrish.com\/?p=2695"},"modified":"2017-10-02T12:14:54","modified_gmt":"2017-10-02T12:14:54","slug":"form-a-company-in-2-3-days","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2016\/10\/03\/form-a-company-in-2-3-days\/","title":{"rendered":"Company Incorporation in India made simpler and more versatile"},"content":{"rendered":"
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MCA has taken another bold initiative in Government Process Re-engineering (GPR) and launched Simplified proforma for Incorporating Company Electronically (SPICe) e-Form.<\/em><\/strong><\/span><\/figcaption><\/figure>\n

Ministry of Corporate Affairs (MCA) has introduced a bold initiative in Company Incorporation so that registering a company and starting business, in India, is made simpler and speedier that your business can be started within the stipulated time frame, in line with international best practices.<\/p>\n

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MCA has launched SPICE (Simplified Proforma for Incorporating Company Electronically) w.e.f. 02.10.2016 for registering companies\u00a0 in completely online form, vide Form INC-32.<\/p>\n

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This would be processed speedier as the e-MOA and e-AOA would have a faster review, by the approving authorities through the back office set up in this regard.<\/p>\n

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This would make setting up of business, in India, fairly simpler and more versatile, making way for “ease of doing business”.<\/strong><\/span><\/p>\n

The highlights of SPICE are:<\/p>\n

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  1. Simplified and completely Digital Form for Company <\/em><\/strong>Incorporation – Form INC-32
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    1. Standard format of e-Memorandum of Association as per <\/em><\/strong>Companies Act, 2013 – Form INC 33
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      1. Standard format of e-Articles of Association as per Companies <\/em><\/strong>Act, 2013 – Form INC 34
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        1. Memorandum and Articles will now be filed as linked e-forms, <\/em><\/strong>except for Section 8\u00a0 (not-for-profit companies)<\/em><\/strong><\/li>\n<\/ol>\n
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          1. Provision to apply for Company Incorporation with a pre-approved <\/em><\/strong>Company Name vide INC -1, as well
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            1. Mandatory DSCs of Subscribers and Witnesses in <\/em><\/strong>SPIC<\/strong>e <\/em><\/strong>MOA and <\/em><\/strong>SPIC<\/strong>e <\/em><\/strong>AOA\u00a0<\/em><\/strong><\/li>\n<\/ol>\n

              7. Back Office productivity gains due to faster review of e-MOA and e-AOA by approving authorities.<\/strong><\/em><\/p>\n

              As part of the initiative of ease of doing business in India, the Ministry of Corporate Affairs had earlier introduced e-filing of single Form INC-29 as alternative to INC 7, so that incorporating a company in India does not take too long a time. As further simplification of the process of registering companies, SPICE Form INC-32 is intended to make the whole process versatile for a new company to be registered on-line in India, under the Companies Act, 2013.<\/p>\n

              e-Filing of single Form INC-32<\/strong><\/p>\n