Corporate Affairs Minister Nirmala Sitharaman met Regional Directorates and Registrar of Companies on Tuesday to discuss issues on processing of forms, fast-track mergers, delivery of services like incorporation/voluntary exit of companies/LLPs through the central facilities, e-governance, harmonisation of forms.
At the meeting—also attended by Minister of State for Corporate Affairs Harsh Malhotra and senior officials of the Ministry of Corporate Affairs— they discussed on issues related to adjudication, inquiries, inspection and investigation (3Is) manuals, prosecution, appeals against adjudication orders, compounding of violations etc.
“Today is the era of governance, and therefore MCA’s driving principle should be to make governance easy, transparent and with focus on facilitation. MCA must strive to be futuristic to be able to serve stakeholders in a time-bound manner,” added Sitharaman.
MCA has so far standardised its manuals on enforcement and further process and rule simplification to ensure a transparent and timely delivery of services. Further, Sitharaman directed MCA that a live dashboard may be built to ensure that more transparency is brought to the systems in MCA.
MCA has taken several measures to ensure smooth functioning of the companies. The ministry recently deployed MCA-21 Version 3, introducing substantially revised e-forms for annual corporate filings. Recently, it extended annual filing deadlines to December 31, 2025, to provide significant relief for companies adapting to India’s new e-filing framework. For compliance professionals managing FY 2024-25 annual returns and financial statements, this extension offers essential additional time without the burden of late filing penalties.
MCA have instructed companies to improve transparency and accountability in businesses. Many companies need to share detailed information in their official communications, office signage, and filings with the government Displaying a clear signboard enables visitors, customers, and government officials to identify your business without confusion.