MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5
The Ministry of Corporate Affairs (MCA) has issued an update regarding the AGILE PRO S form, which is filed as part of the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) process. This change affects businesses applying for company incorporation in India.
Key Update
The maximum number of directors that can be entered in Form AGILE PRO S shall be less than or equal to 5, depending on the Class, Category, and Sub-Category of the company as selected in SPICe+ Part A.
Minimum Number of Directors Required
As per the Companies Act, 2013, the required minimum number of directors for different types of companies is as follows:
One Person Company (OPC) – At least 1 Director 👤
Private Limited Company – At least 2 Directors 🏢
Public Limited Company – At least 3 Directors 📈
Producer Company – At least 5 Directors 🌿
Key Compliance Requirement
It is essential that the Director details entered in Form AGILE PRO S match exactly with those in SPICe+ Part B. Any discrepancy may lead to rejection or delays in the incorporation process.
What is Form AGILE PRO S?
AGILE PRO S is an integral part of SPICe+ Part B, enabling newly incorporated companies to apply for multiple registrations simultaneously, including:
- GSTIN (Goods and Services Tax Identification Number)
- EPFO (Employees’ Provident Fund Organization)
- ESIC (Employees’ State Insurance Corporation)
- Professional Tax Registration (for select states)
- Opening of a Bank Account
Why is this Important for Entrepreneurs & Businesses?
- Ensures proper compliance during the company incorporation process.
- Reduces the chances of errors and rejection of incorporation applications.
- Simplifies documentation and streamlines the registration process.
Conclusion
With this latest update, businesses applying for company incorporation must carefully review Form AGILE PRO S to ensure that the number of directors entered does not exceed the permissible limit. Additionally, all director details should be consistent across SPICe+ and AGILE PRO S to avoid delays in the company formation process.
For seamless company registration and compliance, consult professionals to guide you through the latest MCA requirements.
