The ministry of corporate affairs (MCA) has recently introduced an E-form under the SPICe (Simplified Proforma for Incorporating Company Electronically) scheme by notifying under companies (Incorporation) Fourth Amendment Rules, 2016. Through this E-form, INC-32 along with MOA in a company can be incorporated E-form INC-33 and AOA in E-form INC-34. This simplified e-form has been introduced to further simplify the incorporation of a company electronically.
Through this amendment, MCA has introduced filling of pre-drafted MOA and AOA electronically. The major change brought by MCA for simplifying incorporation of company was brought in 2015 where the incorporation is by filling E-form INC-29 as against the 5 forms (i.e. DIR-3 for application for obtaining DIN, INC-1 for approving the name of company, INC-7 for registration of company with MOA and AOA, INC-22 for registered office and Form DIR-12 for first directors of company) filed before the change.
Due to this change, the whole process of incorporation in a single form would take about 48 hr for approval. MCA to facilitate the incorporation process introduced SPICe E-form INC-32to provide more facilities than the Form INC-29 by introducing filing of Memorandum and Article of Association electronically. So now we can incorporate a company by following:
- INC-7, DIR-12 & INC-22
- INC-29 (Substituted by INC-32)
We can form following companies using INC32 form
- Part I Company
- Producer Company
- Section 8 Company (was not available in INC-29)
- New Company – Public or Private or OPC
Purpose of the INC32 E-Form
Form INC-32 deals with a single form for the reservation of name, incorporation of a new company or for allotment of DIN. It is accompanied by the documents that support it like details of Directors & subscribers, MoA and AoA etc. if the form is processed and is complete then the company will be registered and CIN as well as DIN will be given to the Company and the proposed Directors. While incorporating a company minimum 3 directors are allowed for using this form for application for allotment of DIN.
Mandatory Attachments for the form
- Affidavit and declaration by first subscribers and directors.
- Proofs of Office address (Conveyance/ Lease deed/ Rent Agreement etc. along with rent receipts).
- A copy of the utility bills (not older than two months).
Key Highlights of E-Form INC-32
Point 1 : Even if you have applied in form INC-1, still you can file INC-32. This feature was not available in E-Form INC-29. We can also apply for the name of the company though form INC-32.
Point 2 : MOA and AOA are provided differently in electronic form E-Form INC-33 and E-Form INC-34. In E-form INC-33, you have to mention the objects of the company and in E-Form INC-34 you have to provide for pre-drafted clauses of AOA.
Point 3 : The subscribers and the witness of MOA and AOA will affix their digital signature on the E- Form INC-33 and INC-34.
Point 4 : Information under form INC-32 is more than Form INC-29. It not only fulfils the purpose of 5 forms at one time but also facilitates MOA and AOA filing
Point 5 : The MCA has provided the procedure for the conversion of a company limited by guarantee into a company limited by share.
Point 6 : Date of signing MOA & AOA will be the date of affixing Digital signature.
Point 7 : In Form INC-34 you have to select the table which is applicable to you and then the clauses will appear for the same.
Hope you like this Article regarding the INC32 Form. if you have any query just comment below or you can Download the SPICE Form on the below links.
|Simplified Proforma for Incorporating Company Electronically (SPICe)
|eMemorandum of Association (SPICe MoA)
|eArticles of Association (SPICe AoA)