Ministry of Corporate Affairs launches Simplified Proforma for Incorporating a Company Electronically

New Delhi, Oct 3 (KNN) The Ministry of Corporate Affairs has launched a simplified e-form for incorporating a company electronically. Existing INC-29 and INC-7 will be phased-out and SPICe will be the sole, simplified & versatile form available for incorporation of a company in India

The main objective of launching this e-Format proforma, SPICe, is to provide speedy incorporation related services within stipulated time frames which are in line with the international best practices.

SPICe would enable a simplified and completely digital form for Company Incorporation.

There would be a standard format of e-Memorandum and e-articles of Association as per Companies Act, 2013

Memorandum and Articles will now be filed as linked e-forms (except for Section 8 companies) and there would be a provision to apply for Company Incorporation with a pre-approved Company Name.

SPICe would have mandatory DSCs of Subscribers and Witnesses (max 7+1) in SPICe MOA and SPICe AOA.

Existing INC-29 and INC-7 will be phased-out and SPICe will be the Sole, Simplified & Versatile form available for incorporation of a company in India. (KNN Bureau)