{"id":25619,"date":"2021-02-07T10:00:35","date_gmt":"2021-02-07T04:30:35","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=25619"},"modified":"2021-02-06T16:12:43","modified_gmt":"2021-02-06T10:42:43","slug":"new-company-under-companies-act-2013-via-spice","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/new-company-under-companies-act-2013-via-spice\/","title":{"rendered":"How to Establish a New Company under Companies Act 2013 via SPICE+?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Registering a new company in India has now become simpler after the introduction of the SPICe+ form, a web-based application. Ministry of Corporate Affair introduced this online form on 15th Feb 2020 on its official website. <a href=\"https:\/\/corpbiz.io\/company-registration\"><strong>Company registration<\/strong><\/a> is imperative for those entities that are willing to conduct their business under a legal framework. <\/p>\n\n\n\n<p>In India, an entity can be converted into different business forms depending on the nature of the business and the size of the operation. At present, a Private Limited is considered the most profitable and sustainable business model in the country. In this blog, you will come to know how to transform a new company into a legally registered entity.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/new-company-under-companies-act-2013-via-spice\/#Procedural_Instructions_for_Registering_a_New_Company_under_Company_Act_2013\" >Procedural Instructions for Registering a New\nCompany under Company Act, 2013<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/new-company-under-companies-act-2013-via-spice\/#Required_Paperwork_for_the_Registration_of_a_New_Company\" >Required Paperwork for the Registration of a New\nCompany&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/new-company-under-companies-act-2013-via-spice\/#Benefits_of_Registering_a_New_Company_into_a_Legal_Entity\" >Benefits\nof Registering a New Company into a Legal Entity&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/new-company-under-companies-act-2013-via-spice\/#Conclusion\" >Conclusion&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedural_Instructions_for_Registering_a_New_Company_under_Company_Act_2013\"><\/span>Procedural Instructions for Registering a New\nCompany under Company Act, 2013<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Ministry of Corporate Affairs has introduced the SPICe+ web form intending to simplify the company registration process for the new company.&nbsp;This new form is categorized into two sections i.e. PART A and PART B. The PART A of the SPICe + allows users to reserve a company\u2019s name; meanwhile, Part B renders the following services:-<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Procedural-Instructions-for-Registering-a-New-Company-under-Company-Act-2013.png\" alt=\"Procedural Instructions for Registering a New Company under Company Act, 2013\" class=\"wp-image-25644\" width=\"459\" height=\"465\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Procedural-Instructions-for-Registering-a-New-Company-under-Company-Act-2013.png 985w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Procedural-Instructions-for-Registering-a-New-Company-under-Company-Act-2013-296x300.png 296w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Procedural-Instructions-for-Registering-a-New-Company-under-Company-Act-2013-768x780.png 768w\" sizes=\"(max-width: 459px) 100vw, 459px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The PART A of the SPICe +<\/strong><\/h3>\n\n\n\n<p>The process of registering a new company starts with the name\nreservation.&nbsp;The following section will let you complete the name\nreservation process with ease.<\/p>\n\n\n\n<ul><li>First, open the official website of MCA and then log in to the same website.\u00a0<\/li><li>On the home page, opt for the \u201cMCA services\u201d >SPICe + option.<\/li><li>Select the \u201cNew Application\u201d option on the new windows and fill up the following fields:\u00a0<ul><li>Type of the company <\/li><li>Class of company <\/li><li>Category of company <\/li><li>Sub-Category of company <\/li><li>Main division of Industrial Activity of the Company <\/li><li>Description of the main division<\/li><\/ul><\/li><li>After filling the above fields, enter the proposed name of the company.\u00a0<\/li><li>Opt for the Auto Check option to initiates the data validation process conducted by the portal itself.\u00a0<\/li><li>Result of the validation process shall appear on your screen once the portal is done with the same.<\/li><li>Tap on the Save option to proceed further.\u00a0<\/li><li>Within a couple of seconds, a notification shall prompt on the screen. Here you need to select the Submit option.\u00a0<\/li><li>Opt for \u201csubmit for name reservation\u201d option in the dialog box.\u00a0<\/li><li>A payment window will prompt on your screen. Make sure to note down the SRN (Service Reference Number) as it could come in handy for tracking the status of application.<\/li><li>Tap on the \u201c<strong>Pay now\u201d\u00a0<\/strong>for furnishing the fees for name reservation.\u00a0<\/li><\/ul>\n\n\n\n<p><strong><em>Once you fulfilled every requirement of PART A, go ahead and completes the detail of Part B of the form.<\/em><\/strong><\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/fast-track-company-registration-under-spice-in-india\/\">Analysis on the Fast Track Company Registration under SPICe+ in India<\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The PART B of the SPICe +<\/h3>\n\n\n\n<p>Part B of the SPICe+ form contains plenty of sections in regards to the check form. The detail about incorporation is as follows:&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Part-B-of-the-SPICe-form-contains-plenty-of-sections-in-regards-to-the-check-form.-The-detail-about-incorporation-is-as-follows.png\" alt=\"Part-B of the SPICe form contains-plenty of sections in regards to the check form. The detail about incorporation is as follows\" class=\"wp-image-25647\" width=\"421\" height=\"383\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Part-B-of-the-SPICe-form-contains-plenty-of-sections-in-regards-to-the-check-form.-The-detail-about-incorporation-is-as-follows.png 985w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Part-B-of-the-SPICe-form-contains-plenty-of-sections-in-regards-to-the-check-form.-The-detail-about-incorporation-is-as-follows-300x274.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/Part-B-of-the-SPICe-form-contains-plenty-of-sections-in-regards-to-the-check-form.-The-detail-about-incorporation-is-as-follows-768x700.png 768w\" sizes=\"(max-width: 421px) 100vw, 421px\" \/><\/figure><\/div>\n\n\n\n<p>Select the pre-scrutiny check. The submission of\nthe application would be confirmed by the portal via a notification. Make sure\nto get the downloadable copy of Part B for the attachment of DSC i.e. Digital\nSignature Certificate and other forms alongside Form B. The form associated\nwith SPICe+ web form encloses SPICe+MoA &amp; SPICe+AoA, AGILE-PRO, URC-1 &amp;\nINC-9. The applicant can submit the said forms on the MCA\u2019s website without\nmuch of a hassle.&nbsp;<\/p>\n\n\n\n<p>Keep in mind that Service Request Number (SRN)\nshall be delivered by the portal against the fee submission for the new company\nregistration. After successful payment, the portal will consider the application\nand it to further processing.<\/p>\n\n\n\n<ul><li>In case if any error is detected by the authority in the application then resubmission is the only option in such a case.\u00a0<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Required_Paperwork_for_the_Registration_of_a_New_Company\"><\/span>Required Paperwork for the Registration of a New\nCompany&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Charter of the establishment i.e. MOA and AOA.<\/li><li>Declaration given by directors &amp; subscribers.\u00a0<\/li><li>Confirmed office\u2019s address.\u00a0<\/li><li>Copy of utility bills such as electricity and gas bill (for the last two      months)<\/li><li>Nominee\u2019s assent<\/li><li>Residential address as well as ID proof of the nominees &amp; subscribers.\u00a0<\/li><li>The Declaration of the unregistered companies<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">For AGILE-PRO<\/h3>\n\n\n\n<ul><li>Proof\non the subject of the principal place of business<\/li><li>Appointment\nproof of Authorized Signatory\u2019s <\/li><li>Letter\nof Authorization\/Copy of Resolution agreed by the Board of Directors<\/li><li>Appointment\nproof for GSTN of the proposed director <\/li><li>Proposed\nDirector\u2019s ID for a new bank account.<\/li><li>Proposed\nDirector\u2019s address proof for opening the bank account<\/li><li>Proposed\nDirector\u2019s signature for EPFO<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_Registering_a_New_Company_into_a_Legal_Entity\"><\/span>Benefits\nof Registering a New Company into a Legal Entity&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>A registered firm has the opportunity to explore government-related schemes, unlike their counterparts.\u00a0<\/li><li>A new company operating under <em><strong>Company Act, 2013<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Companies_Act_2013\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> seemingly stays longer and stable than unregistered entities.\u00a0<\/li><li>A new company with legal status has more ability to attract potential      customers.<\/li><li>The likelihood of encountering the legal issues is less in the case of the      registered company, be it a matter of expansion or opening a subsidiary unit.\u00a0<\/li><li>Forceful acquisition of a registered firm is not possible as it remains isolated from illegal manipulation.<\/li><li>The shareholders of the privately held entity enjoy the limited      liabilities-meaning they are not liable to put their assets at stake for      compensating the loss incurred by the company.\u00a0<\/li><li>A Private limited firm offers more solidity in terms of legal structure and transparency.\u00a0<\/li><li>The wrapping of a registered companies isn\u2019t as straightforward as an      unregistered firm. The director and the shareholders of the company have to make a collective effort to serve such a purpose. Thus; even the closure of the establishment in case of a registered company is protected by the legal provisions.\u00a0<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Availing the government registration is the best way to minimize\nrisk with the newly established entity. A registered company is less likely to\nencounter issues on the legal front and stays functional regardless of the\ncondition of its members. Thus; company registration is the only way to\nmaximize the profitability of the business. <\/p>\n\n\n\n<p>The process of registering a new companies under the Company Act has been simplified after the launch of the SPICe+ form. By releasing this form, MCA aims to curb the complexity associated with the preceding process and minimizes the risk of cancellation.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/benefits-of-private-company-registration\/\">Exciting Benefits of Private Company Registration That You Can\u2019t Ignore!<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Registering a new company in India has now become simpler after the introduction of the SPICe+ form, a web-based application. Ministry of Corporate Affair introduced this online form on 15th Feb 2020 on its official website. Company registration is imperative for those entities that are willing to conduct their business under a legal framework. In [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":25642,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[1512],"acf":{"service_id":"1"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":3610,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/25619"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=25619"}],"version-history":[{"count":22,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/25619\/revisions"}],"predecessor-version":[{"id":25657,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/25619\/revisions\/25657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/25642"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=25619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=25619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=25619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}