Business Mantra News
The Ministry vide notification no.936 (E) dated 01.10.2016 on companies (Incorporation) fourth Amendment Rules, 2016 has come up with new rules for Incorporation of Company with simplified procedure known as Simplified proforma for Incorporating Company Electronically (SPICE). In these scheme e MOA (In form INC-33) and e AOA (In Form of INC-34) filed along with form INC-32.
Purpose of the e form-
The purpose of e form Inc-32 is simplified procedure for incorporation of company so we can promote ‘ease of doing business. E Form SPICE (INC-32) deals with the single application for reservation of name, incorporation of a new company and/or application for allotment of DIN. This eForm is accompanied by supporting documents including details of Directors & subscribers, MoA and AoA etc. Once the e Form is processed and found complete, company would be registered and CIN would be allocated. This form is available on MCA w.e.f 03.10.2016. we can incorporate various type of companies as follow:-
- Incorporation of Private and Public Limited Company.
- Incorporation of Producer Company.
- Incorporation Of Section 8 (Non Profit) company
- Incorporation of One person company (OPC).
Minimum Authorized and subscribed share capital required for One person Company (OPC) is Rupee one or a private company having share capital is rupees two and in case of public company is Rupees Seven.
In this form do not use abbreviation like pvt., ltd, (P) etc. rather complete words like Private Limited to be used.
Limitation of e form-
There are some limitations of e form INC-32 –
- In SPICE (INC-32) we can file details of Maximum Seven Subscribers if we want to incorporate company by more subscribers so we have to follow normal procedure (Through INC-7).
- We can incorporate company with maximum three directors (when director is not having DIN) through form INC-32.
- Total number of directors (including both ‘having’ and ‘not having’ DIN) should be minimum 1 in case of OPC, 2 in case of private company (other than producer company) or 3 in case of public company or 5 in case of a producer private company.
E Memorandum of Association-
First time the Ministry of corporate affairs introduced e Moa in the form of INC-33 which have pre drafted set of information regarding company It is the easiest way to incorporate company.
- First select the table applicable on company like limited by shares or unlimited etc. then it will ask about either we have filed INC-1 or not.
- If we have filed INC-1 then we can fill the details by pressing prefill button and give the details of objects and fill subscriber sheets etc.
- If we have not filed INC-1 then mention the name of company, state of incorporation and objects of the company, fill the subscriber sheet and details of share capital.
- In this e form subscribers DSC are affixed instead of physical signature.
- There is no need of signature of witness because in this scheme affix the DSC of witness.
E Article of Association:-
E Article of Association is filed in form INC-34 which have a prescribed format.
- Firstly select the table applicable on company according to schedule I of the companies Act, 2013.
- According to table chosen by us Article clause is open after that we can select the clause by clicking on it.
- Director name should be entered in the clause according to their designation in the company.
- One others box is also mention in this form in which we can mention other clause of article if any.
- Proposed name of company also mention when INC-1 is not filled or if INC-1 is filed then enter the SRN of INC-1.
- Affix the DSC of witness.
Attachment of E form:
- Affidavit and declaration by first subscriber(s) and Director(s)
- Proof of Office Address.
- Copies of utility bills that are not older than two months.
Other relevant information:-
- INC-32 (SPICE) is not STP form.
- In this form we can apply only one proposed name of company.
- In This form three resubmission are allowed after that it can be rejected by department.
- If director don’t have DIN then PAN of director is filed in this form.
- By this simplified procedure we can save time and as well as less paper work.