Incorporation of Private Limited Company in Jammu: Under Spice+ Form

To conduct business activities, Union Territory Jammu is a very suitable alternative for forming a private limited company in Jammu. Private limited companies are registered under the MCA in Jammu. In Jammu, a private limited company is a company that is owned by private shareholders or stakeholders and in which the obligations of the members or shareholders are constrained. A minimum of two individuals must be registered as shareholders and directors in order for a private limited company to be formed. Additional requirements include submitting address documentation for the registered office, a bank statement, the directors’ PAN numbers, and address documentation for the directors.

Key Abstract

The new form SPICe+ is used for company registration and incidental registrations, with the goal of making business as simple as possible. The former SPICe form has been replaced with the SPICe+ form. The SPICe+ form must be used to complete all new business formations online. Other forms that must be filed with SPICe+ include AGILE-PRO, SPICe+ AoA, and SPICe+ MoA. Before we discuss the incorporation of the company using SPICe+, let us understand SPICe+ in detail.

SPICe+ Form

SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) is an abbreviation for Simplified Proforma for Incorporating Company Electronically Plus. SPICe+ aims to deliver around 10 services through three Central Government Ministries and Departments (Ministry of Corporate Affairs, Ministry of Labor, and Revenue Department under the Ministry of Finance) and one State Government. The form is a multi-service web form that is connected with a single application.

 Services Offered by the New SPICe+ Form

In order to make doing business easier, a new form SPICe+ for company incorporation and incidental registrations has been announced. The SPICe+ form replaces the old SPICe form. All new business incorporations must be completed online using the SPICe+ form. AGILE-PRO, SPICe+AoA, and SPICe+MoA are the other forms that must be filed in addition to SPICe+.

• The SPICe+ Form (Part A) is used for
• Reservation of Name
• The SPICe+ Form (Part B) is used for
• Incorporation of a company
• Application of DIN
• Request for a PAN
• Submission of a TAN
• Submission of a GSTIN
• EPFO registration
• ESIC registration
• Creation of a Bank Account
• Registration for Profession Tax

RUN Web Service

The term Reserve Unique Name is referred to as RUN. Using this web tool, it is possible to reserve a name for a brand-new business or change the name of an already-existing organization. When reserving a name for a new business, the kind of business and potential names for the company must be provided.

The additional information required to change the name of an existing business is the CIN/LLPIN. The SPICe+ & AGILE – PRO forms have been made available; therefore going forward, only existing businesses may have their names changed using the RUN online service.

AGILE-PRO

Employees’ State Insurance Corporation Registration, Application for Goods and Services Identification Number (AGILE), and Employees’ Provident Fund Organization Registration are all abbreviations for AGILE. The previous AGILE form has been replaced with the online AGILE – PRO form (INC – 35).

Criteria for registering a Private Limited Company in Jammu

To register a private limited company in Jammu, there are certain requirements that must follow:

• Directors: There must be a minimum of two directors in order to register a private limited company in Jammu. Each firm director must possess a DIN (Directors Identification Number). One of the directors must be a native of Jammu.
• Shareholders: A private limited company must have a minimum of 2 members and a maximum of 200 members in order to be registered in Jammu.
• Innovative Name: The company name must be distinct in order to be registered as a private limited company in Jammu. The firm must submit at least 5–6 names to the ROC (Register of Companies) for approval at the time of registration; the ROC will then choose one distinct name from these 5–6 names to be approved. Every Private Limited Company will conclude its company name with “Private Limited.”
• Digital Signature Certificate-Obtaining a digital signature certificate is a requirement for each director of the organization. Each and every document must now be submitted online. Digital signatures from the company’s directors are required for the submission of papers online.
• Professional Certificate: In Jammu, a certificate of professional is necessary for the incorporation of a Private Limited Company. These experts can be Chartered Accountants, Company Secretaries, Cost Accountants, etc. depending on the situation.

Advantages of Registering Private Limited Company using SPICe+ in Jammu

Following are the advantages of registering a Private Limited Company using SPICe+ in Jammu:

• It has simplified and made hassle-free the process of incorporating a company.
• With the introduction of a new dashboard for SPICe+ forms and connected forms, the authorized name will be presented, doing away with the need to do an SRN search.
• In addition to being an enhanced version of the current SPICe, SPICe + may also be used for a variety of purposes, including name reservations, incorporation, etc.
• To make filing easier, SPICe+ will be divided into many categories.
• This program just has one window.
• This integrated web form is anticipated to shorten time-consuming processes, save costs, and simplify the process of launching a new business in India.

Documents required for the Incorporation of the Company using SPICe+

Following are the documents required for the Incorporation of the Company using SPICe+:

• Using SPICe+
• Articles of Association
• Initial Directors’ and Subscriber’s Declaration (There is no need for
• an affidavit).
• Memorandum of Association (s)
• Electricity bill copies as evidence of the office address
• A duplicate of the certificate of formation of a foreign corporation (if any)
• A resolution was adopted by the promoter corporation.
• The founding director(s) of the company’s interest in other
• companies
• Nominee approval (INC–3)
• Subscribers are required to submit identification documentation as well as their home addresses.
• It is necessary to provide the nominee’s identification evidence and residential address.
• Proof of the applicant’s identity and addresses I, II, and III
• Unregistered firms must be handled in the case of a Chapter XXI violation (Part 1) – A declaration form for corporations is called INC-14.
• Optional attachments (if any)
• Form INC-15, Declaration of Information (if any)
• The attachments’ Part A
• Using AGILE-PRO
• Evidence of the company’s main location
• A letter of authorization, a copy of the BOD resolution, a managing committee resolution, and an acceptance letter are all acceptable proofs of the appointment of a GSTIN authorized signatory.
• The Authorized Signatory must provide identity verification in order to open a bank account.
• The Authorized Signatory must provide documentation of their address in order to open a bank account.
• Specimen Authorized Signatory Signature for EPFO

Procedure for Incorporate a New Company Using the SPICe+ Form

Applicant must follow, the following procedure for incorporating a new company using the SPICe+ Form:

• Step 1: On the “MCA” site, choose the “SPICe+” option.
• Step 2: When you pick “SPICe+,” a new screen with the option “New Application” must be chosen and displayed. If you already have an application, select “Existing Application” and provide both the proposed or authorized name and the application number.
• Step 3: From the drop-down menu, choose the “Company” type.
• Step 4: Choose the “Company” class.
• Step 5: Decide on the “Company Category” that contains the aforementioned choices:
  • Company Limited by Shares
  • Limited Liability Company with a Guarantee
  • Company without limits
• Step 6: Choose the “Subcategory of the Company” 
• Step 7: The next sentence must include the company’s “Main Division of Industrial Activity” (Mention the code of the industrial activities). The appropriate company description will be pre-filled in the “Description of main division” area if you select “01.”
• Step 8: The final step is to submit details on the “proposed or authorized name.” Click the “Auto-check” button to initiate the first level automatic assessment of the proposed or authorized name in accordance with the name-controlling regulations.

You can either submit “Part A” to reserve a name or move forward with incorporation. “Part B” becomes accessible after you decide to proceed with incorporation.

Each of the sections of Part B has its own ‘check form’ validation. The necessary registration data (as mentioned in the sentences before) must be entered. Additionally, the following information:

• The place of the company’s registered office.
• Who has been suggested as directors and subscribers?
• The capital of the Company.
• To register for tax registrations, among other things, PAN and TAN numbers are required.

Other Points that one should keep in mind while incorporating a company using SPICe+

Applicants must keep in mind the following points while incorporating a company using SPICe+:

• The necessary registration document must be uploaded (as mentioned in the paragraphs above). You are required to do a “pre-scrutiny” check after finishing Part B. Click submit when the “pre-scrutiny” is finished.
• A notification shows up when the form is successfully submitted. To attach the DSC and complete any accompanying paperwork, you should obtain the PDF of Part B that was submitted.
• The SPICe+ forms include AGILE-PRO, SPICe+ MoA and SPICe+ AoA, URC-1, and INC-9. Following that, the SPICe+ Part B and related documentation may be uploaded to the MCA site. A Service Request Number is generated for making a payment toward business incorporation.
• Once the payment has been paid successfully, the forms will be processed. The SPICe+ form must be filed in the same manner if the forms need to be submitted again because of processing problems.

Conclusion

The government’s measures over the past few years have greatly accelerated the company incorporation procedure. Their goal of a quick and smooth process is now gradually becoming a reality. Previously, this entailed a laborious procedure that took months to complete.

However, by effectively utilizing technology, a company can now be formed in a matter of days, instantly turning millions of ambitions into reality.