December 30, 2024
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Corporate compliance reforms streamline share transmission and duplicate certificate procedures, and modernise electronic filing and adjudication.
The Ministry implemented corporate regulatory reforms that modernise compliance and access. Key measures include a new internship scheme providing financial assistance for year-long placements, migration of MCA21 to Version 3 with reduced forms and straight-through online processing, recognition of the legal heirship certificate for share transmission, removal of FIR and surety requirements for certain physical share certificate processes, enhanced IEPFA multilingual grievance redressal, establishment of a Central Processing Centre and CPACE for expedited e-form processing and corporate exit, faceless electronic adjudication for decriminalised defaults, and amendments to accounting standards alongside proposals for an integrated IBC technology platform.