Form 32 of SPICe has been introduced recently by the MCA, short for Ministry of Corporate Affairs. This form is a simplified pro-forma which is being used to incorporate the companies electronically. It is also known as the Form INC-32. This form can help to incorporate any business with only one application like the reservation of the name, addition of any new business and application to obtain the DIN. This new form is quite similar to that of the Form INC-29. The later form also assists in the fast tracking of the incorporation of any enterprise within the country. Details about the SPICe or the Form 32 will be described in the following passages of this article.
SPICe – Form INC-32
Through the integration of multiple steps in one single method, the Form 32 assists in the process of incorporating a business in a quick and easy way in India. The following categories of companies can be benefitted from the use of the SPICe form and be incorporated accordingly.
- One Person Company
- Private Limited Company
- Producer Company
- Public Limited Company
- Section 8 Company
The companies belonging to other various categories like that of unlimited company, company that has been limited by guarantee of the companies that are limited by the shares can also avail this form.
Contrast between the Form INC-29 and Form INC-32
The newly issued form 32 is quite similar to the form INC-29 which is also known as the Integrated Incorporation Form which is being used currently. Within a span of one or two days, both the forms can help with the incorporation of the business within one step. But, there is a huge difference between the two forms. In the Form 32 of SPICe, a chance of entering the approval of the name has been provided, which have been received by the applicant already. Thus, the name can be assured. On the other hand, in case of the Form INC-29, there is no chance of entering the approval of the name has been provided, which have been received by the applicant already. This leads to the rejection or re-submission of the application.
How to file for the SPICe – Form INC-32
Form 32 has to be accompanied by the required documents which includes the details of the subscribers and the directors, MoA and AoA, proof of address, proof of identity, declarations, affidavits and so on. After the online form has been filed, the Central Processing Center of the MCA gets the possession of the form. If all the documents are submitted and the form is filled up accordingly, then the business will get approval for registration and a CIN will be provided. The directors who do not own a valid DIN are allotted with another valid DIN. At most, three directors are permitted to use the integrated form for the filing of the application of the allotment of the DIN during the incorporation of the company. Using the form INC-32, it has become easier to get the ESIC, PAN and TAN registration done in one single step in addition to the reception of the DIN and getting the certificate of incorporation.
Announcement by the Professional
In order to file the form of INC-32, a digital signature is needed from a professional. Such professional can be anyone such as Advocate, Cost Accountant, Company Secretary or a Chartered Accountant. It is the duty of the professional to announce that all the data which are given in the form are correct. The professional also has to provide his or her number of membership and the certificate.
Documents Needed for the SPICe Form INC-32
The documents given below must be filed along with the SPICe Form INC-32 for the incorporation of the company:
- Affidavit and the declaration by first the subscriber or the subscribers and the director of the directors – Mandatory in all cases
- The Articles of Association – Applicable and mandatory only in the case of the Section 8 company or the company which has foreign subscribers but no DIN
- Copies of the utility bills which are not older than 2 months
- Copy of the approval in case the suggested name contains any word or words or any expression or expressions which require the approval from the central government
- If the suggested name is based on any registered trademark or is the subject matter of an application that has been kept pending for the registration under the Trade Marks Act, then it is compulsory to attach the trademark registration certificate or the trademark application copy
- Memorandum of Association – Applicable and compulsory only in case of the Section 8 company or the company with foreign subscribers not having DIN
- NOC from the sole proprietor or the partners or the other associates or the existing company
- Proof of the identity and the residential address of the directors
- Proof of the identity and the residential address of the subscribers
- Proof of the office address
For further information contact Company Vakil experts.
