New and Innovative Measures to Improve Working in MCA

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The Ministry of Corporate Affairs (MCA) has taken several initiatives to achieve the vision of being a facilitator of world-class governance of corporates and the Mission of easing compliance, balancing the interest of stakeholders and achieving excellence in service delivery.

 The following initiatives have been taken by the MCA:

1. Ease of Doing Business: 

 Ministry of Corporate Affairs has significantly contributed towards achieving the goal of Ease of Doing Business and is focused on improving corporate governance practices as the objectives of raising corporate governance standards and ease of doing business go hand in hand. In order to facilitate Ease of Doing Business (EoDB) in India and to improve India’s ranking, the Ministry has strengthened effective enforcement of Companies Act 2013, Insolvency and Bankruptcy Code 2016, Competition Act 2002, Limited Liability Partnerships Act 2008 and other allied Acts.

 2. MCA-21:

It is an end-to-end holistic e-Governance project which has been running successfully and has enabled the Ministry to achieve very high standards of service delivery, besides providing the Government with a comprehensive National Corporate Information Database. MCA21 system is also integrated with the registration of EPFO, ESIC, GST, PAN, and TAN at the time of incorporation of companies.

 3. “RUN”:

Introduction of new web service facility called “Reserve Unique Name” (RUN) for name reservation for companies & LLPs which dispenses with the need for filing a detailed six-page application form, (erstwhile e-form INC-1) and replaces it with a simple web service wherein only three fields are required to be filed after login.

 4. Central Registration Center (CRC):

 A Central Registration Centre is been set up at the Indian Institute of Corporate Affairs (IICA), Manesar for processing applications for name reservation and incorporation of companies & Limited Liability Partnership (LLPs), within 1-2 days as opposed to an average of at least 15 days earlier.

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