Revamping MCA

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There is a plan to revamp the country’s largest e-governance project – MCA-21(Ministry of Corporate Affairs while 21 standing for 21st century reform), which enables e-filing of corproate information with the Ministry of Corporate Affairs. The Ministry will undertake the project along with Tata Consultancy Services (TCS).

The e-filing system which was introduced two years ago, is the second biggest system in the world next only to US. According to a note released by the Institute of Company Secretaries of India (ICSI) the Ministry plans to launch the second generation of e-filing process.

“However, the ministry feels there is still a lot of room for improvement and hence has once again teamed up with Tata Consultancy Services for ushering in a newer version of MCA-21 ”, the note said.

The note further stated that after revamping the system, it would be convenient and easier for the companies to file corporate information with the Ministry while public and professionals would get easy access to relevant records and effective grievances redressal. This is also expected to usher in effective compliance of relevant laws and improve corporate governance.

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