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The fast track company registration has been made easier and simpler by the Ministry of Corporate Affairs. The Ministry of Corporate Affairs (MCA) has done many amendments to simplify the process of Company Registration in India.
The Government has brought in a new simple application to further ease the process of company incorporation. The new web form SPICe+ integrates various services from different ministries and departments.
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Instituting SPICe is one of the steps to simplify the process of incorporation of companies and to promote the businesses to register themselves as a company. The Ministry of Corporate Affairs in a notification dated October 1, 2016, launched new e-forms to simplify and speed up the Company Registration Process under Companies Act, 2013.
SPICE: SPICE means “Simplified Performa for Company Registration Electronically”. SPICe does incorporation of a company under a single application form.
In India, approximately, more than one lakh companies are incorporated every year. Approximately, 9,000 companies have been registered under SPICe on the Portal of Ministry of Corporate Affairs in the last few days. The MCA came up with a new form SPICe+ replacing the existing SPICe form.
The new integrated web form provides for the following:
Part A- Name Reservation
SPICe+ has simplified the process of incorporation of a company. As it is a single window form, it is speedy and it saves the cost of incorporation and also saves time. Approximately, 9,000 companies are being registered every month. The complete procedure for incorporation under SPICe+ can be done within a few days time if you have all the required documents.
Read our article:E-Form MGT-14: Its Concept and the Procedure for Filing it
Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.
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