E-governance project: 9 company forms to go live from Sept 1

The Ministry of Corporate Affairs (MCA) on Wednesday announced the next major step in the rollout of version 3.0 of MCA21, India’s first mission mode e-governance project. Sources said it has decided to on-board corporates on version 2.0 currently from September 1.

MCA has identified nine company forms – DIR 3-KYC WEB, DIR 3-KYC eForm, DPT-3, DPT-4, CHG-1, CHG-4, CHG-6, CHG-8 and CHG-9 – Which will go live from 1st September and will be the first set to be launched on the MCA21 V3 portal.

“In view of the upcoming launch of 9 Company Form in version-3, LLP filing on MCA21 V-3 portal will not be available from 27th August (00.00 am) to 28th August (23.59 am). However, the MCA21 V-2 portal will remain available for company filings,” the MCA said on Wednesday.

The MCA also said that the remaining company forms and other modules like e-decision, compliance management system are to be fully deployed within the calendar year.

MCA is currently releasing MCA21 version 3.0 in phases to ensure minimum disruption in regulatory filings.

Version 3.0 module has already been implemented for Limited Liability Partnership (LLP).

MCA 21 is the online portal of MCA, which has made all the information related to the company accessible to the stakeholders and general public. It was initially launched in 2006.

L&T Infotech has contract for operation and maintenance of MCA21 V3.0.

‘Game changer’ for MCA

A company law expert said that version 3.0 is to be seen as a “game changer” for MCA as it will be able to utilize the latest technological tools available through this module, to ensure compliance made by Corporate India. To achieve a fine control over the range and quality.

Finance Minister and Corporate Affairs Minister Nirmala Sitharaman, presenting the budget for 2021-22, said that the government will use data analytics, artificial intelligence and machine learning to launch MCA 21 3.0, which will enable e-investigation, e-consultation, etc. Amenities will be included. E-Decision and Compliance Management.

The project plans a microservices architecture with high scalability and capability for advanced analytics. It is aligned with global best practices and aided by emerging technologies such as Artificial Intelligence and Machine Learning.

Launched last year, the first phase of MCA21 v3.0 included a new website, new email services for MCA executives and two new modules eBook and e-consultation.

MCA intends to work with three professional institutions – CA Institute, Institute of Company Secretaries and Institute of Cost Accountants – to implement the various modules under V3.0 of MCA 21.

MCA21 V3.0 is expected to emerge as a catalyst for overhaul of corporate compliance, culture and corporate regulatory environment in the country towards transparency, simplification and meeting the needs of various stakeholders.

MCA21 V3.0 is expected to strengthen enforcement, promote ease of doing business, improve user experience and facilitate seamless integration and data exchange between regulators.

It will not only improve the existing services and modules but also create new functionalities like e-decision, compliance management system, enhanced helpdesk, feedback services, user dashboard, self-reporting tool and revised master data services.

Published on

24 August 2022

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https://www.thehindubusinessline.com/economy/policy/mca21-v30-nine-company-forms-to-go-live-from-sep-1/article65806935.ece

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