Ministry of Corporate Affairs took another bold initiative in Government Process

The Ministry of Corporate Affairs has taken another bold initiative in Government Process Re-engineering (GPR) and launched a Simplified Proforma for Incorporating a Company Electronically (SPICe) e-Form, on the occasion of Gandhi Jayanthi 2016.The main objective of launching this e-Format proforma, SPICe, is to provide speedy incorporation related services within stipulated time frames which are in line with the international best practices.

SPICe’s USP is as follows: -

1. Simplified and completely Digital form for Company Incorporation
2. Standard format of  e-Memorandum of Association  as per Companies Act, 2013
3. Standard format of e-Articles of Association as per Companies Act, 2013
4. Memorandum and Articles will now be filed as linked e-forms (except for Section 8 companies)
5. Provision to apply for Company Incorporation with a pre-approved Company Name

6.      Mandatory DSCs of Subscribers and Witnesses (max 7+1) in SPICe MOA and SPICe AOA

1. Back Office productivity gains due to faster review of e-MOA and e-AOA by approving authorities.

Existing INC-29 and INC-7 will be phased-out and SPICe will be the Sole, Simplified & Versatile form available for incorporation of a company in India

Courtesy – Press Information Bureau, Government of India