Govt to rationalise filing framework under companies law

PTI

New Delhi

The Corporate Affairs Ministry is planning to rationalise the filing framework, including consolidation of forms, under the companies law after gathering stakeholders' inputs.

The Companies Act, 2013 is being implemented by the ministry.

Through the Indian Institute of Corporate Affairs (IICA), the ministry is undertaking a structured multi-city stakeholder consultation on improving the corporate compliance architecture.

"The consultation specifically seeks stakeholder inputs on the rationalisation of the MCA filing framework under the Companies Act, 2013, including the consolidation of forms, transition to a data-centric architecture, expansion of Straight Through Processing (STP), and the adoption of an interaction-based, pre-filled filing interface (MCA21 Version 3)," the ministry said in a note.

Among other priorities, the efforts are aimed at mapping high-impact reform opportunities from incorporation of companies to exit, and tapping automation potential through intelligent system integration, pre-filling, and reuse of registry data.