MCA’s Landmark Initiative on Ease of Doing Business
The Ministry of Corporate Affairs (MCA), on 14 February 2024 announced the formal establishment of the Central Processing Centre (CPC) as promised in the Union Budget 2023-24. CPC would operate as an office of Registrar under the MCA and is expected to centrally handle approvals of e-forms filed under the Companies Act, 2013. Ease of Doing Business
The Registrar of the CPC is entrusted with the wide powers to examine every application / e-form / document required or authorized to be filed for approval, registration, or taking on record by the Registrar under the Companies Act, 2013. Ease of Doing Business
The MCA has notified 12 e-forms that will be processed by the CPC with effect from 16 February 2024. More e-forms are likely to be notified for processing by 01 April 2024. Ease of Doing Business Ease of Doing Business
The interesting feature of the establishment of CPC is the time allotted to them for processing the e-forms. The CPC is supposed to arrive at a decision on any application / e-form / document filed within 30 days from the date of filing other than in cases where approval of any other office like the Central Government / Regional Director etc is required. This is aimed at reducing the turn-around time from the Ministry for e-forms than the current time taken. Ease of Doing Business
The establishment of CPC followed by the Central Registration Centre (CRC) for incorporations, demonstrates the commitment of the Government to ease of doing business and faster processing of applications. Ease of Doing Business
Click here to access the Notification
Ease of Doing Business Ease of Doing Business
About the Author:
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Jothikamali Vinayagam
Associate –Regulatory Advisory & Support, Assists in corporate secretarial compliances for companies in India. |
