SPICe – Form INC-32:– The Ministry of Corporate Affairs (MCA) recently introduced SPICe Form INC-32, which stands for Simplified Proforma for Incorporating Company Electronically. It’s a new method for electronically registering a company. SPICe or Form INC-32 enables applicants to request the reservation of a company name, complete the incorporation process for a new company, and/or apply for a Director Identification Number (DIN), all in a single application. This form bears similarities to Form INC-29, another application form that expedites the company incorporation process in India. In this article, we will explore SPICe or Form INC-32 in detail.
SPICe – Form INC-32
Form INC-32 simplifies company incorporation in India by combining multiple steps into one process.
SPICe Form INC-32 allows for the registration of various types of companies in India, including private limited companies, public limited companies, one-person companies, Section 8 companies, and producer companies.
Different categories of companies, such as those limited by shares, limited by guarantee, or unlimited, can be registered using SPICe Form INC-32.
Also Read:-MCA Form INC-9 -Declaration by Subscribers and First Directors
Comparison: Form INC-32 vs Form INC-29
- Form INC-32 is quite similar to Form INC-29, also known as the Integrated Incorporation Form, which is currently used.
- Both Form INC-29 and SPICe Form INC-32 enable the incorporation of a company in just one or two days.
- However, the main difference between SPICe Form and INC-29 is that SPICe Form INC-32 allows applicants to enter a name that has already been approved, ensuring certainty about the chosen name.
- In contrast, Form INC-29 doesn’t provide a procedure for entering a previously approved name, which could result in the need for resubmission or rejection of the application.
Filing Procedure for SPICe Form INC-32
Supporting documents such as details of directors and subscribers, affidavits, declarations, identity proof, address proof, Memorandum of Association (MoA), and Articles of Association (AoA) must accompany Form INC-32. After submitting the eForm, it undergoes processing at the MCA’s Central Processing Center. If everything is in order, the company is registered, and a Corporate Identification Number (CIN) is provided. Additionally, Director Identification Numbers (DINs) are issued to proposed directors who don’t have one. Form INC-32 also facilitates easy registration for the company’s PAN, TAN, and ESIC in a single step.
Required Documents for Form INC-32
To complete Form INC-32 for company incorporation, several essential documents are necessary. These include details of directors and subscribers, affidavits, declarations, proof of identity and address, Memorandum of Association (MoA), and Articles of Association (AoA).
Post-Submission Process:
Following the submission of Form INC-32, it undergoes processing at the MCA’s Central Processing Centre. If all necessary information is provided and the form is complete, the company is officially registered, and a Corporate Identification Number (CIN) is allocated. Additionally, Directors Identification Numbers (DINs) are issued to proposed directors who do not possess one.
Additional Registrations:
Using Form INC-32, besides the incorporation and DIN allotment, companies can conveniently obtain PAN, TAN, and ESIC registration in a single step.
Professional Affirmation:
Form INC-32 requires a digital signature from a professional (such as a Chartered Accountant, Company Secretary, Cost Accountant, or Advocate). The professional must attest to the accuracy of the information provided.
Necessary Documentation:
To complete Form INC-32, the following documents are required:
- Memorandum of Association (MoA) and Articles of Association (AoA) for Section 8 companies or those with foreign subscribers lacking DIN.
- Affidavits and declarations from first subscribers and directors.
- Proof of office address, including utility bills dated within the past two months.
- Approval copy if the proposed name necessitates central government approval.
- Trademark registration certificate or application copy if the proposed name is trademark-based or pending registration.
- NOC from sole proprietor/partners/associates/existing company.
- Proof of identity and residential address of subscribers and directors.
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