Question

Explain the following term/concept.

SPICe.

Answer 1

SPICe stands for Simplified Proforma for Incorporating Company Electronically. It is a simplified integrated process for the incorporation of a company Vide rule 38 of the companies (incorporation) (4th Amendment). This rule was made applicable with effect from 2/10/2016. SPICe is to be filled for applying:

1. Reservation of Name of Company
2. Incorporation of a new company
3. DIN for Directors
4. PAN and TAN for a new company

This form needs to be submitted to the Registrar of Companies (ROC).
Submission of documents: Along With the SPICe form, documents like the e-Memorandum of Association, the e-Articles of Association, other documents necessary for the registration (incorporation) of company and the prescribed fees are required to be submitted electronically to the Registrar of Companies (ROC).