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    Update on MCA21 Version -3
    Ministry of Corporate Affairs announces winners and honourable mentions for National CSR Awards 2020
    IBBI disposes off 6,172 complaints and grievances out of 6,231 against service providers under IBC
    4,32,796 companies struck off down during last five years
    1,67,080 companies registered in FY 2021-22 as compared to 1,55,377 in FY 2020-21
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    August 24, 2022
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    Regulatory portal upgrade suspends LLP filings during transition; nine company forms migrate to the new MCA21 platform.
    The announcement describes a phased rollout of MCA21 version-3.0 to enhance enforcement and ease of doing business, noting Phase 1 and Phase 2 deployments and planned modules. LLP filings will be unavailable from 27 August to 28 August to enable migration while the V 2 company portal remains active. Nine company forms are scheduled to go live on the new platform, and FAQs, demos and webinars have been made available to assist stakeholders.
    August 18, 2022
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    Corporate Social Responsibility awards recognise CSR initiatives after a three-stage nomination, verification and Grand Jury selection process.
    The Ministry announced National CSR Awards 2020 across three main categories-Corporate Awards for Excellence in CSR, CSR Awards for CSR in Aspirational Districts / Difficult Terrains, and CSR Awards for contribution in National Priority Areas-with winners and Honourable Mentions listed by sub category. Recognition links to compliance with Section 135 of the Companies Act, 2013, includes MSME reservations, and is determined through a three stage process of online nomination, shortlisting and field verification, and Grand Jury recommendation emphasizing independent assessment of CSR projects.
    August 9, 2022
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    Ineligible resolution applicants prevented from taking over; regulator disposed majority of grievances and enforces due diligence.
    The IBBI received 6,231 complaints and disposed of 6,172; the Ministry of Corporate Affairs does not participate in CIRP. Resolution plans are market-driven, assessed by the Committee of Creditors and approved by the Adjudicating Authority. Regulatory safeguards address ineligible resolution applicants: Resolution Professionals must conduct due diligence to detect ineligibility, CoC commercial vetting precedes AA approval, and liquidators are barred from selling assets to persons who would be ineligible as resolution applicants. Enforcement agencies have pursued isolated complaints against practitioners.
    August 9, 2022
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    Removal of company names under Section 248 continues, with extensive strike-offs and dormant status under Section 455.
    Removal of a company's name from the Register of Companies is governed by Section 248, which permits strike-off where a company has not carried on business for two consecutive financial years and has not applied for dormant company status under Section 455; administrative data show substantial numbers of strike-offs over five years and separate counts of companies granted dormant status, while no rule-making power exists under the voluntary liquidation provision of the Insolvency and Bankruptcy Code and no targeted measures have been reported to address industrial sickness.
    August 2, 2022
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    Company and LLP registration trends show year on year increase; expanded financial reporting enforcement recommended.
    Registrations of companies and limited liability partnerships increased year on year under the statutory incorporation framework, and the Company Law Committee recommended expanding the enforcement scope of the national financial reporting oversight body to permit action for additional contraventions under the governing rules.

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