What is SPICe?
SPICe is the abbreviation for Simplified Performa for Incorporating Company Electronically. This is the form which was introduced in the year 2016 for ease of forming and incorporating companies under the Companies Act, 2013. It had a great positive impact as the duration and complexity of formation and incorporation of companies reduced largely. Multiple forms (were combined and brought together in one single form and it eased the long process of company incorporation. All companies formed under Companies Act, 2013 could apply through this form.
Introduction of new Form SPICE+
Ministry of Corporate Affairs, in the recent notification announced the introduction of new form, under the Ease of Doing Business (EODB) initiative, which shall replace the existing SPICe form. This form will be known as SPICe Plus (SPICe+) form. The new SPICe+ form will be even more helpful and time saving. This form will also bring some changes in the RUN (Reserve Unique Name) service. Government of India, Ministry of Corporate Affairs has published a new notification in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) on 6th February, 2020. This notification has been published by the Central Government in exercise of the powers given under section 469 of Companies Act. Government published new rules which shall be called Companies (Incorporation) Amendment Rules, 2020 and shall come into force w.e.f. 15th February, 2020.
Form SPICe+ (SPICe Plus) – A Single Application Helps in:
Major Updates and Changes
The new SPICe+ form provides even more services in a single form than the previous SPICe form. This might result in increase in company formations and lesser difficulties along with better compliance. The Ministry has taken a prudent decision and this can result in even quicker company incorporations.