The Ministry of Corporate Affairs has come up with new and simplified rules and regulations for the Company incorporation done under the Companies Act, 2013. SPICe form refers to “Specified Proforma for company registration Electronically. The facility of SPICe form is provided for the first time for incorporating a company via this attribute. Therefore, there is no requirement to prepare manual MOA & AOA. There is no option to physically sign the AOA & MOA by subscribers and witnesses.
Features of SPICe Form (inc-32) form:
The very first feature of SPICe is that if the number of subscribers details to be filled are only 7. In this case of additional subscribers, the procedure to be followed will be the normal registration procedure as stated in INC-7.
In the SPICe form, the maximum number of director details could be 20.
A maximum of 3 directors is allowed for filing DIN allotment applications while incorporating a company.
Any person can apply the Name also in this form.
The affixation of DSC of the subscriber on the INC-33 (e-MoA), date of signing will appear automatically in the form.
For all fresh applications applying for TAN / PAN must be compulsorily filed in the new version of the SPICe form.
The first step is to select the entity type. The company can either be a New Company, a Section 8 Company, a Producer Company, or a Part 1 Company. Therefore, the entity type should be selected correctly.
The third step is to select the type of company. The company could either be categorized under Unlimited Company or Company Limited by Shares or Company Limited by Guarantee.
Step 4: Specifying Division Code
Fourthly the owners should specify the main division code for the industrial activity of the proposed company. This code should be specific and not copied.
Step 5: To Specify Capital
The fifth step in filing a SPICe form is to specify the authorized and subscribers’ equity and preference capital of the company.
Step 6: Providing Information
Particulars for the proposed name, if SRN (Service Request Number) of INC-1 (name application form) is already applied then do provide it with the same. Also, pre-fill it accordingly. However, the portal will automatically show the approved name.
All the details of the first subscribers of the MOA and Directors of the company who are having valid DIN, not having valid DIN accordingly the system will pre-fill all the details.
Specify the number of shares. Also, specify the Stamp Duty to be made electronically.
Apply for the PAN (Permanent Account Number) as well as TAN (Tax Deduction Account Number) which is mandatory because in this new SPICe form the applicant has to provide all the PAN/TAN details.
The Details of First subscribers such as name, address, occupation, DIN number (if are directors) and apply for DSC (Digital Signature Certificate) for each subscriber.
The witnesses of the subscribers also should attach their Digital Signature Certificate.