Relief for cos grappling with MCA 21 glitches
New Delhi: The Ministry of Corporate Affairs has said stakeholders would not face additional charges if they are unable to submit requisite information due to problems in the electronic filings system MCA 21.
The move is expected to provide relief to companies and various other stakeholders who are required to provide corporate information within a specific time.
Concerns have been raised over glitches in MCA 21, including slow speed and difficulties in uploading documents.
Acknowledging that there are issues, the Ministry has said that services on MCA 21 are not to the "fullest satisfaction of the stakeholders for last few days".
Stating that it is seized of the matter, the Ministry has said that all necessary steps for smooth functioning of the system have been initiated.
"...The Ministry will consider appropriate and due waiver of the additional fee or any other issue being faced by stakeholders due to non-filing of information because of problems in MCA 21 system in last few days," it said in a notice on its website.
IT major Infosys took over the MCA 21 initiative on January 17 from Tata Consultancy Services.
MCA 21 portal is the key platform for companies for submitting the required documents and filings to the Registrar of Companies (RoC). Besides, the website provides public access to corporate information.
The initiative is designed to fully automate all processes related to enforcement and compliance of the legal requirements under the Companies Act.
The second phase of MCA 21, from January 2013 to July 2021, has a total project outlay of Rs 357.81 crore.
It includes Rs 54.42 crore for independent project management and certification, besides Rs 29.84 crore for continuous improvement and upgradation to the electronic service delivery of the Corporate Affairs Ministry.