Press Information Bureau

Government of India

Cabinet Committee on Economic Affairs (CCEA)

24-September-2012 19:58 IST

The Cabinet Committee on Economic Affairs approved continuation of MCA21 Project for its second cycle from January, 2013 to July, 2021 as a Non-Plan Scheme at a total project outlay of Rs.357.81 crore including an outlay of Rs.54.42 crore for independent project management and certification over eight and a half year period. It also includes an outlay of Rs.29.84 crore for continuous improvements and upgradation to the electronic service delivery of the Ministry of Corporate Affairs.

The project will benefit all the companies and LLPs registered in India. In addition, the project benefits citizens through its IEPF sub-portal for investor awareness and disclosures. Banks and financial institutions also benefit immensely from MCA21 as it acts as a repository of charge information on company/company's assets. MCA21 project has also benefited various state governments through innovative use of electronic stamps (e-stamp).

MCA21 e-governance programme has already resulted in improved service delivery and in its second cycle it is expected to continue the same. In addition, the project will improve corporate governance through better scrutiny of company disclosures, better enforcement of corporate laws and paperless working.

The Ministry of Corporate Affairs had launched "MCA21 Project" in February 2006. It is a major e-Governance initiative covering all aspects of incorporation and regulation of companies as defined under the Companies Act. It is an end-to-end e-Governance program envisaging electronic filing of documents, registration of companies and public access to corporate information online through a secure interactive portal. The portal services can be accessed/ availed from anywhere, at any time that best suits the corporate entities, professionals and the public at large.

The Ministry of Corporate Affairs has proposed similar service delivery model as in first project cycle. In addition to continuing all the services being provided presently, Ministry of Corporate Affairs will extend e-governance to its OL offices, connect attached offices like SFIO and CLB, etc. in its second cycle. Ministry envisages redesigning of the portal to improve the stakeholder's experience. New services like SMS and mobile enabled interfaces will be provided for improved service delivery.

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SH/RK

e governance continuity for corporate registry approved to extend digital filing, disclosure and stakeholder access with upgrades. MCA21 Project continuation authorises a second cycle non plan e governance programme to maintain and upgrade the Ministry's digital corporate registry, allocating funds for project management and continuous electronic service improvements while preserving end to end electronic filing, registration and secure public access to corporate information.