MCA or Ministry of Corporate Affairs has simplified the process for the incorporation of Companies. It notified two new forms ‘ Spice+ ‘ and ‘Agile-Pro’ to ease the process of doing business. Through this notification, the Ministry of Corporate Affairs has amended the Companies (Incorporation) Amendment Rule, 2020. To simplify the incorporation of the company, a new form Spice+ and Agile-pro is introduced to replace the existing Spice form an Agile form. The services of the new forms are applicable to new incorporations with effect from 15 February 2020. The new SPICE+ form provides all the services right from the reservation of name for the company till the opening of the Bank account post-incorporation.
Salient Features of the New Spice+ Form
Spice+ Form will offer ten services by three Central Government Ministries and Government Departments.
The Ministry of Corporate Affairs.
The Ministry of Labour & Department of Revenue in the Ministry of Finance.
Maharashtra State Government.
Maharashtra State Government.
Spice+ form would be an Integrated Web Form to be filed on MCA Portal.
This form is divided into two parts:
Since it is a web-based form, the form would be filed through a Front office dashboard along with other applicable linked forms.
Incorporation applications done in Part B after the reservation of name in Part A can be submitted as a process in continuation of Part A of Spice+. The stakeholders can directly login on the dashboard without even entering the SRN (Service Request Number) of the approved name. The accepted name will be displayed on the panel, and a click on the same will take the user for completing of the application through a hyperlink that will be available on the application number in the new dashboard.
Information entered once can be saved and modified in form Spice+.
Complete checking of form and Pre-scrutiny validations except the DSC validation will happen on Spice + form itself.
Once the SPICe+ form is filled with all the relevant details, the same would be then converted into pdf, with just a click of the mouse button, for affixing DSCs.
Digitally signed applications can be uploaded with the linked forms as per the existing process.
Changes or modifications to the SPICe+ forms after generating pdf and affixing DSCs can also be done by editing the same web form application which has been save by generating the updated pdf, affixing DSCs and uploading the same.
Registration for EPFO and ESIC is mandatory for all new companies incorporated with effect from 15 February 2020.
Professional Tax Registration shall be mandatory for all new companies incorporated in the State of Maharashtra.
It is mandatory for all companies incorporated through Spice + forms to open the Company’s Bank account through the Agile-Pro linked web forms.
Declaration by the Subscribers and first Directors in form INC-9 shall be auto-generated in pdf format and must be submitted only in Electronic form in all cases except:
The total number of subscribers and directors is greater than 20.
Declaration made by the first subscribers and directors.
In case of foreign body corporate a copy of the certificate of incorporation.
Copy of the utility bills.
A resolution passed by a foreign company, Promoter Company or unregistered company.
Consent provided by nominees.
Address proof and identity proof of the subscribers and nominees.
Identity proof, along with residential proof of the applicant/applicants.
Declaration done in Form INC-14 and Form INC-15.
Difference between Form Spice and Spice+ Form
The newly introduced Spice+ form is very similar to the already existing spice forms. The Spice + forms provide some extra services apart from the spice form. The significant difference is:
Spice is an eform and Spice + is a web integrated forms.
Spice+ forms save time and cost for starting a business in India.
SPICe+ forms are part of various initiatives and commitments of the Government of India towards the ease of doing business in India.
Companies getting incorporated through Spice+ forms with an authorized capital up to Rs.15,00,000 will continue to enjoy zero filing fee concession. From 23rd February 2020 onward, RUN service is applicable only for the change of name of an existing company. Changes or modifications in SPICe+ form even after generating pdf and affixing DSCs can be done up to only five times by editing the same web application which has been saved and uploading the same. In case of any technical problems like uploading of forms, pre-scrutiny errors, DSC related, payment related queries, etc. the ticket can be raised on www.mca.gov.in in my services section and one needs to await a resolution. Hence, all newly incorporated companies can save time, procedures and money through Spice+ form and Agile Pro.
The official notification can be found in the given link: http://www.mca.gov.in/Ministry/pdf/rule_22022020.pdf
Deepti is a Law graduate with an avid interest in reading and very proficient in summarizing legal cases. She has enough experience in handling legal affairs of the company. In the initial days of her career, she has worked as a legal researcher and has 3+ years of experience.