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SPICe Form INC-32 is a simplified proforma similar to INC-29 that helps with fast-track incorporation of a company in India with a single application for reservation of name, incorporation of a new company or application for allotment of DIN electronically. It is recently introduced by the Ministry of Corporate Affairs (MCA). The SPICe Form INC-32 assimilates the several steps involved in the process of incorporation of a company into one- way method.
If you are wondering that Form INC-29 and Form INC-32 is very much similar to each other then whats the difference? Then the major difference is that under Form INC-32, there is a procedure for entering name approval already obtained by the applicant. On the contrary, there is no provision for entering a previously obtained name approval in Form INC-29. As a result, the application form can be rejected or may ask for the resubmission.
This article will further explain to you, how this SPICe or Form INC-32 can be beneficial-
There are certain companies that can use Form INC-32 to be incorporated in India and are described below:
There are several other companies also that falls under the categories of a company limited by shares, a company limited by guarantee or an unlimited company.
There are some specific documents that must be accompanied with the SPICe Form INC-32. These are given below:
As soon as the E- Form is filed, Central Processing Centre of the Ministry of Corporate Affairs (MCA) processed it. If found complete then only the company would register and CNN would be allocated to the individual. A valid DIN is also very significant in the process of company Incorporation. If the proposed Directors are not having a valid DIN then it is issued to them. Maximum three Directors are entitled to use this assimilated Form for filling application of allotment of DIN at the time of Incorporation of a Company. SPICe Form INC-32 is not only helpful in the fast process of allotment of DIN and incorporation certificate but for obtaining Company’s PAN, TAN and ESIC registration in a single step, it has proved important.
It is mandatory that the SPICe Form INC-32 must be signed by a Professional Chartered Accountant/ Company Secretary/ Cost Accountant/ Advocate digitally. The declaration by a Professional that all Information presented hereby is true along with his membership number and certificate number is also compulsory to complete this form.
For further information regarding Company registration, Form INC-29, RBI Guidelines refer to our website Legalraasta.
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