Mumbai Will Log On To MCA Soon

by CXOtoday Staff    Apr 03, 2006

MCA 21, the Government of India’s flagship e-Governance initiative, aimed at providing secure electronic filing for all services provided by the Registrar of Companies (ROC), including incorporation of a company, annual filing, registration of charges and liquidation, will go online in Mumbai on April 24.

The facility will help banks and financial institutions to benefit through the process of ‘Registration of Charges’, a valuable input for credit evaluation. Technology partner TCS will provide IT infrastructure like computers, printers, scanners and other peripherals, as well as set up facilitation centers for the first three years of the project. There will be 53 such locations spread throughout the country, besides a Primary Data Center in Delhi and a Disaster Recovery Center in Chennai.

“Computerization has become necessary for rendering prompt service to over seven lakh companies in the country,” said V S. Rao, Director, Western Region, Ministry of Company Affairs, addressing an interactive meeting on ‘E-governance - MCA 21 Project’ organized by Indian Merchants’ Chamber.

“This facility will lay bare all public documents of MCA for anybody who wants to see them. It will help meeting the long-felt needs of bankers who need to sanction loans to companies, and of investors who plan to invest in the company’s shares. It will bring about transparency in the system of corporate functioning,” he added.

Rao informed that balance sheets of any company on the department’s website could now be accessed by paying small fees online. Also, every company would be needed to get signatures of its two officers digitized by paying a fee of Rs2,000 each.

“It will enable companies to do e-filing of annual documents, reports, and will also allow the public easy access to information such as the name and other details about the company directors, the memorandum of articles, latest balance sheets, companies performance, etc,” informed V A. Vijayan Menon, Registrar of Companies, Maharashtra.

The MCA-21 project was flagged off about a month back with it’s first live implementationin Coimbatore.