Mention the steps to be taken, formalities to be fulfilled, forms to be filled for incorporation of a company as per the provisions of Companies Act, 2013.

CS Executive · Company Law · PYQS · December 2021
Mention the steps to be taken, formalities to be fulfilled, forms to be filled for incorporation of a company as per the provisions of Companies Act, 2013.

Answer & Explanation:

How to Incorporate a Company The Companies (Incorporation) Amendment Rules, 2020 w.e.f 23rd February, 2020 introduced new web form SPICe+ for incorporation of the Companies replacing the old e-form SPICE. SPICe+ is an integrated Web Form offering 11 services by 3 Central Government Ministries & Departments viz. Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance and three State Government (Maharashtra, Karnataka & West Bengal), thereby saving as many procedures, time and cost for starting a Business in India. SPICe+ is part of various initiatives and commitment of Government of India towards Ease of Doing Business (EODB). SPICe+ is an integrated Web Form replacing the earlier version of the e-forms, the form is divided in to two parts viz.: Part A-for Name reservation for new companies; and Part B-offering a bouquet of services viz. Incorporation, DIN allotment, issuance of PAN+TAN+EPFO & ESIC registration, Professional Tax and Shop & Establishment registration etc. From 23rd February 2020 onwards, RUN service is applicable only for 'change of name' of an existing company and the new web form facilitate on-screen filing and real time data validation for seamless incorporation of companies. The approved name and related incorporation details as submitted in Part A, would be automatically Pre-filled in all linked forms also viz., AGILE-PRO-S, eMoA, eAoA, URC-1, INC-9 (as applicable). STEP-1: Apply for Name Approval After Login use have to click on the icon SPICE+ in MCA Service. An online form shall be open. Applicants have to fill the information online. Details required to be mentioned in online form Part A of SPICe+ viz. type of company, class, category, main division, description of the company, etc. Validity of Reserved Name: The name may be either approved or rejected, as the case may be, by the Registrar, Central Registration Centre after allowing re-submission of such web form within fifteen days for rectification of the defects, if any. Reserved name shall be valid for 20 days from the date of approval. The Registrar shall have the power to cancel the reserved name in accordance with sub-section (5) of section 4 of the Companies Act. 2013. STEP-II: Preparation of Documents for Incorporation of Company The following documents are required to be enclosed in SPICE+: Memorandum of Association; Articles of Association; Declaration by the first director(s) and subscriber(s); Proof of office address; Copy of utility bills not older than two months; NOC for use premises for registered office of proposed Company from owner and person whose name mentioned in utility bill; Copy of certificate of incorporation of foreign body corporate (if any); A resolution passed by promoter company; the interest of first director(s)in other entities; Proof of identity as well as the residential address of subscribers; Proof of identity as well as residential address of the nominee; Optional attachments(if any). STEP-III: Fill the Information in Form Once all the above mentioned documents/ information are available. Applicant has to fill the information in the form 'Spice+ Part -B. Maximum details of 7 subscribers can be filled in SPICe+. In case of more subscribers, physically signed MOA & AOA shall be attached in the Form. Maximum details of THREE (3) directors are allowed to be filled in SPICe+. Maximum 3 (Three) DIN can be applied through SPICE+ form STEP-IV: Fill details of PAN& TAN It is mandatory to mention the details of PAN& TAN in the Incorporation Form INC-32. STEP-V: Fill details of GST, IEC in AGILE-PRO-S If Company wants to apply for GST or IEC it has to select YES in the form and fill the information in the form. If Company doesn't want to apply for GST and IEC then it have to select no. If Companies wish to perform Aadhar authentication for GSTIN registration, they can select Yes or No itself in the Agile Pro- S Form. STEP - VI: Preparation of MOA & AOA (Electronic or Physical) After proper filing of SPICE+ form, applicant has to file form INC-33 (e-MOA) and INC-34 (e-AOA) from the MCA site. STEP-VII: Submission of INC-32, 33, 34, AGILE-PRO S on MCA Once all the 4 forms ready for the applicant, upload all four document as Linked form on MCA website and make the payment of the same. Following is the sequence of uploading linked forms to SPICE +: e-MOA [if applicable] e-AOA [if applicable] URC-1 [if applicable] AGILE-PRO-S [mandatory in all the cases] INC-9 Companies getting incorporated through SPICE+ with an Authorized Capital up to ₹15,00,000 would continue to enjoy 'Zero Filing Fee' concession. Such companies will be levied with only stamp duty fees as may be applicable on state to state basis. STEP-VIII: Certificate of Incorporation The Certificate of Incorporation of company shall be issued by the Registrar in Form No. INC-11 along with CIN, PAN & TAN.

Topics: Incorporation of Company

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