• How many names can be applied for in SPICe (INC-32)?

    Only one.
    For further details please access following link.

  • Is INC-22 still required to be filed with SPICe?

    It is not required to be filed with SPICe (INC-32) if a company is registered with the same address as the address for correspondence (in INC-32). In case the registered address is different, INC-22 is required to be filed within 30 days of its incorporation, for intimating the registered office address.
    For further details please access following link.

  • Is it mandatory to use eMoA and eAoA? Can physical copies of MoA/AoA be signed and attached with SPICe forms?

    Yes. It is mandatory to use eMoA (INC-33) and eAoA (INC-34) . Physical copies of MoA/AoA be signed and attached only in case of foreign subscriber.
    For further details please access following link.

  • Whether eMOA (INC-33) and eAOA (INC-34) is to be filed with SPICe (INC-32) in respect of non-individual first subscribers who are based outside India?

    No. In respect of non-individual first subscribers who are based outside India, pdf attachments of apostillised MOA and AOA shall be attached with SPICe (INC-32).
    For further details please access following link.

  • Is a proposed Section 8 company required to file eMOA (INC-33), eAOA (INC-34) along with SPICe (INC-32)?

    No. Section 8 companies are mandatorily required to file MOA and AOA as pdf attachments to SPICe (INC-32).
    For further details please access following link.

  • What are the exceptional scenarios in which pdf attachments (MOA, AOA) should be used instead of eMoA, eAoA with SPICe (INC-32)?

    When the applicant is :
    1. Non-Individual first subscriber based outside India
    2. Non-Individual first subscriber based in India
    3. Indian National being Subscriber other than director
    4. Indian National being Subscriber-cum-Director
    5. Foreign National being Subscriber other than director having valid DIN
    6. Foreign National being Subscriber-cum-Director having valid DIN
    7. Foreign National being Subscriber-cum-Director not having valid DIN
    For further details please access following link.

  • In SPICe AoA (INC-34) if additional Article is required, how to enter the same?

    SPICe AoA (INC-34) has facility for adding, modifying, and deleting Articles.
    For further details please access following link.

  • Can we enter the conditions of private company as required under Section 5 of the Companies, Act, 2013 in SPICe AoA(INC-34)?

    Yes, SPICe AoA (INC-34) has facility for adding, modifying, and deleting Articles.
    For further details please access following link.

  • Can we enter the names of first directors as required under Companies Act, 2013, in SPICe AoA (INC-34)?

    Yes, SPICe AoA (INC-34) has facility for adding, modifying, and deleting Articles.
    For further details please access following link.

     

  • Can we use SPICe form now for resubmitting incorporation applications filed in form INC-2 /7 earlier?

    No. SPICe cannot be used in such cases. However, form INC-2/7 shall be available for resubmission cases only for a period of 15 days from the date the form was sent for resubmission by CRC.
    For further details please access following link.

  • Which are the permissible ways in which an FVCI can make the investment?

    The FVCI is permitted to:

    a) Purchase the securities/ instruments (permitted for FVCI) either from the issuer of these securities/ instruments or from any person holding these securities/ instruments.

    b) Invest in securities on a recognized stock exchange subject to the provisions of the SEBI (FVCI) Regulations, 2000, as amended from time to time.

    c) Acquire, by purchase or otherwise, from, or transfer, by sale or otherwise, to, any person resident in or outside India, any security/ instrument it is allowed to invest in, at a price that is mutually acceptable to the buyer and the seller/ issuer.

    d) Receive the proceeds of the liquidation of VCFs or of Cat-I AIFs or of schemes/ funds set up by the VCFs or Cat-I AIFs.

  • How can an Indian company receive foreign investment?

    Investments can be made by non-residents in the equity shares/fully, compulsorily and mandatorily convertible debentures/fully, compulsorily and mandatorily convertible preference shares of an Indian company, through the Automatic Route or the Government Route. Under the Automatic Route, the non-resident investor or the Indian company does not require any approval from Government of India for the investment. Under the Government Route, prior approval of the Government of India is required. Proposals for foreign investment under Government route, are considered by respective Administrative Ministry/Department. Foreign investment in sectors/activities under government approval route will be subject to government approval where:

    a) An Indian company is being established with foreign investment and is not owned by a resident entity.

    b) An Indian company is being established with foreign investment and is not controlled by a resident entity.

    c) The control of an existing Indian company, currently owned or controlled by resident Indian citizens and Indian companies, which are owned or controlled by resident Indian citizens, will be/is being transferred/passed on to a non-resident entity as a consequence of transfer of shares and/or fresh issue of shares to nonresident entities through amalgamation, merger/demerger, acquisition etc.

    d) The ownership of an existing Indian company, currently owned or controlled by resident Indian citizens and Indian companies, which are owned or controlled by resident Indian citizens, will be/is being transferred/passed on to a non-resident entity as a consequence of transfer of shares and/or fresh issue of shares to nonresident entities through amalgamation, merger/demerger, acquisition etc.

    e) It is clarified that Foreign investment shall include all types of foreign investments, direct and indirect, regardless of whether the said investments have been made under Schedule 1 (FDI), 2 (FII), 2A (FPI), 3 (NRI), 6 (FVCI), 9 (LLPs), 10 (DRs) and 11(Investment Vehicles) of FEMA (Transfer or Issue of Security by Persons Resident Outside India) Regulations. FCCBs and DRs having underlying of instruments which can be issued under Schedule 5, being in the nature of debt, shall not be treated as foreign investment. However, any equity holding by a person resident outside India resulting from conversion of any debt instrument under any arrangement shall be reckoned as foreign investment.

    f) Investment by NRIs under Schedule 4 of FEMA (Transfer or Issue of Security by Persons Resident outside India) Regulations will be deemed to be domestic investment at par with the investment made by residents.

    g) A company, trust and partnership firm incorporated outside India and owned and controlled by non-resident Indians will be eligible for investments under Schedule 4 of FEMA (Transfer or issue of Security by Persons Resident Outside India) Regulations and such investment will also be deemed domestic investment at par with the investment made by residents.

  • What is the institutional framework governing FDI in India?

    FDI in India is regulated under Schedule 1 of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (Original notification is available at link; subsequent amendment notifications are available at link2.

    Besides FEMA, 1999, FDI is also subject to other regulations as per Reserve Bank of India (RBI) and DIPP. DIPP is the nodal agency entrusted to formulate FDI Policy. It issues press notes to make amendments in the existing policy and also issues consolidated FDI Policy on an annual basis.