Dharm & Associates
Practicing Company Secretary
‘THE ONLY CONSTANT IN LIFE IS CHANGE’
Ministry of Corporate Affairs vide notification dated 18th February, 2020 notifies Companies (Incorporation) Amendment Rules, 2020. They shall come into effect from 23rd February, 2020, published Companies (Incorporation) Amendment Rules, 2020.
| Rules Before Amendment | Rules after Amendment |
| Reservation of Name or Change of Name –
An Application for reservation of Name or change of Name shall be made through the web service RUN (Reserve Unique Name) along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014. |
Reservation of Name or Change of Name –
An Application for reservation of Name shall be made through web service available at www.mca.gov.in by using SPICE+ (Simplified Proforma for Incorporating Company Electronically Plus: INC-32), and for |
| Names of the Relevant eForms –
eForms shall be called as Form No – INC-32 (SPICe- 32) and AGILE |
Names of the Relevant eForms –
In the said rules, in rules 10, 12, sub-rule (1) of rule 19, sub-rules (1), (2), (3), (4), (7) and (9) of rule 38, for the words, letters, figures and brackets,, “Form No INC-32 (SPICe), wherever they occur, the letters, brackets, words and figures “SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus: INC-32)” shall be substituted with effect from the 23rd February, 2020. |
| Services under SPICe-32 –
i. Incorporation ii. DIN Allotment iii. Mandatory Issue of PAN iv. Mandatory Issue of TAN v. Allotment of GSTIN (if so applied for) |
Services Under SPICe+ and AGILE Pro (Linked Web Forms) –
i. Incorporation ii. DIN Allotment iii. Mandatory Issue of PAN iv. Mandatory Issue of TAN v. Mandatory Issue of EPFO Registration vi. Mandatory Issue of ESIC Registration vii. Mandatory Issue of Profession Tax viii. Mandatory Opening of Bank Account for the Company and ix. Allotment of GSTIN (if so applied for) |
| INC-9-
Declaration by all the subscribers and Directors in INC-9 shall be given and would have to be attached in SPICe-32 in all cases. |
INC-9 –
Declaration by all Subscribers and first Directors in INC-9 shall be auto-generated in pdf format and would have to be submitted only in Electronic form in all cases, except where: Total number of subscribers and/or directors is greater than 20 and/or any such subscribers and/or directors has neither DIN nor PAN. |
Practical Aspects of Amendment:
In the recent amendment Ministry has already decided to give it the name as great initiative for ease of doing business. We can divide the Key Features into two points i.e. Benefits V/s Drawbacks:
| Benefits | Drawback |
| SPICE+ would have two parts viz.:
Part A – for Name Reservation and Part B – offering a bouquet of Services (Above mentioned Services). |
Part A- for Name reservation You have to mention the Business Activity Code and Proposed Object of the Company.
Sometimes users get confused, where to mention the object clause of the company. It is advisable to attach the separate file for proposed business activities of the company. |
| A new and user friendly Dashboard on the Front Office is being created for company incorporation application (SPICe+ and linked forms as applicable). | User faces the session time out issues. We have to keep the entire attachments ready before using the web services. |
Disclaimer:
IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.
Dharm & Associates
Dharm Sharma
Practicing Company Secretary
Contact us on :
Email: csdharm7@gmail.com Mobile: 8655109188
Author Bio
Very nicely elaborated
Nice observation and very good presentation of all the facts in a very simple and concise manner