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What is the News?
The government of India has launched the first phase of the MCA21 version 3.0 to its digital corporate compliance portal.
About MCA21:
- Firstly, MCA21 is the online portal of the Ministry of Corporate Affairs(MCA). It was initially launched in 2006.
- Secondly, Purpose: It has made all company-related information accessible to various stakeholders and the public.
- Thirdly, Significance: It is India’s first mission mode e-governance project.
About MCA21 version 3.0:
- This MCA21 version 3.0 (V3.0) is being implemented in two phases. The first phase has been launched now. The second and final phase is likely to be launched in October 2021.
- This version leverages the use of the latest technologies to further streamline the Corporate Compliance and stakeholders’ experiences.
First Phase: The first phase consists of the following features:
- Revamped website of MCA: This will refresh the user experience with an enhanced look and feel.
- E-Book: It will provide easy access to the updated legislation along with a tracking mechanism for historical changes in the law.
- E-consultation module: It will facilitate virtual public consultation of proposed amendments and new legislation introduced by MCA from time to time.
Significance:
- The MCA21 V3.0 will give new meaning to a corporate compliance culture. It will further enhance the trust and confidence in the Corporate regulatory and governance system.
- This new version will also reduce the requirements of attachments, make the forms web-based and strengthen the pre-fill mechanism.
Source: Hindu Businessline
