SPICe 32, 33, 34 forms for Company Registration
All about the SPICe 32, 33, 34 forms for Company Registration - The Ministry of Corporate Affairs (MCA) has been constantly trying to simplify and digitize the company incorporation process. Back in 2015 it had introduced one electronic form INC-29. But now it has made the whole process paperless by introducing SPICe forms. SPICe stands for Simplified Proforma for Incorporating Company electronically. The new edition of forms were rolled out in October, 2017 through Fourth Amendment Rules, 2016 and has replaced the old set of forms. The MCA has also made incorporation of companies via SPICe forma mandatory from January, 2017 onwards. As claimed by MCA, the process is simpler and faster.
SPICe 32, 33 and 34
SPICe 32 form is similar to the INC 29. But instead of filing all the other forms in hard copies you can now submit them electronically. For instance, INC-33 and INC-34 are e-forms through which promoters can submit the company's MOA and AOA electronically in soct copies. You can upload the pre-existing copies affixed with digital signatures of subscribers and witnesses. Since both documents are filed electronically they need to be digitally signed. Similarly, all the other documents like DIR-12, INC-22 etc. can now be submitted along with INC-32 as annexures.
Form INC-32 is linked with INC-33 and INC-34 which is used to submit Memorandum of Association (MOA) and Articles of Association (AOA). The forms are also digitally attested by A chartered accountant or company secretary.
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How does SPICe quicken registration process
The MCA claims that filing documents through SPICe is faster and easier. Do you know how? Registration through SPICe does not require a lot of documentation. Once you have submitted your form as per MCA guidelines your registration might get approved in a matter of 48 hours.
Moreover, all SPICe forms are linked together, that is, the whole set is submitted as one. If forma are incomplete you won't be able to submit them. If your application form lacks any relevant detail, MCA will send back the form for resubmission which is time-barred. This ensures quick response from both MCA and the promoter. SPICe forms indeed save time but they still need to be improved.
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