Monday, 3 October 2016

Company Incorporation in India made Quick and Easy - MCA notifies changes to company setup norms

Indian Company Incorporation made Quick and Easy 



Ministry of Corporate Affairs (MCA) introduced SPICE (Simplified Proforma for Incorporating Company Electronically) w.e.f. 02.10.2016 in e-Form INC-32
Highlights of INC-32
1. This form can be filed even after approval of INC-1. This facility was not provided in INC-29.
2. Memorandum of Association (MOA) has been provided in Electronic Mode INC-33.
3. Articles of Association (AOA) has been provided in Electronic Mode INC-34.
4. In the new e-MOA & AOA there is no need of signatures of subscribers to MOA and AOA, instead of physical signing by subscribers the digital signatures (DSC) of subscribers can be affixed on MOA & AOA.
5. In the new e-MOA & AOA there is no need of signatures of witness, instead of sign of witness, the DSC of witness can be affixed on MOA & AOA eform.
6. Information in the eform has been increased in comparison of earlier eform INC-29
The change in procedural requirements for incorporation of Companies in India would facilitate ease of doing business in India and are especially aimed at reducing the time lines for setting up business in India. 
For more information on Companies Act, 2013 logon to New Corporate Laws Treatise www.nclt.in or write email to cs@nclt.in  

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