MCA simplifies process for Incorporation of Companies, notifies New Forms ‘SPICe+’ and ‘AGILE-PRO’

The Ministry of Corporate Affairs (MCA) has simplified the process for incorporation of the Companies and also notified two new forms to ‘ SPICe+ ’ and ‘AGILE-PRO’ to ease the process.

The MCA through the notification has amended the Companies (Incorporation) Rules, 2014 and the amendment came to be known as Companies (Incorporation) Amendment Rule, 2020.

The Companies (Incorporation) Amendment Rule, 2020 will be effective from February 15, 2020. The amendment brought the following changes in the Principal Act:

1. Reservation of name or change of name under Rule 9 certain things were substituted namely:

• The reservation of the name of the company through an application can be made with the help of web service namely Simplified Proforma for Incorporating Company Electronically Plus: INC-32 (SPICe+), which is available at the website i.e. mca.gov.in.
• In case there is a change in the name of a company than a web service named Reserve Unique Name (RUN) and the registration fee as prescribed under Companies (Registration Offices and Fees) Rules, 2014. The Registrar after the due analysis may accept or reject the application in accordance with the circumstances.
• The central government may allow the resubmission of the web from the 15 days of the ratification of the defects.

2. In  Rule 10, 12, 19(1) and 38(1),(2),(3),(4),(7),(9) in place of words, letters, figures, and brackets Form No. INC-32 (SPICe), wherever they occur, the letter, brackets, words, and figure must be substituted with Simplified Proforma for Incorporating Company Electronically Plus: INC-32 ( MCA rules SPICe+).

3. In MCA Rule 38 the letter ‘Electronically (SPICE)’ was substituted with ‘Electronically Plus (SPICE+).

4. In Rule 38A the following changes were made:

• In the marginal heading, the word “Employees Provident Fund Organisation (EPFO) Registration and Profession Tax Registration and Opening Bank Account” substituted  “Employees Provident Fund Organisation (EPFO)”.
• “Agile-Pro” was substituted in the place of “Agile”.

Further, there were other substitutions that were made in the annexures in accordance with the above amendments.