IANS | 16 Feb, 2024
Ministry of Corporate Affairs has operationalised the Central
Processing Centre (CPC) for centralised processing of corporate filings
without requiring any physical interaction with the stakeholders as part
of the continuing reforms to provide ease of doing business.
The Ministry said 12 forms have begun to be processed at CPC from
Feb 16 which will be followed by other forms from April 1, 2024 onward.
“The
12 forms required to be filed as part of various regulatory
requirements under Companies Act and Limited Liability Partnership Act
(LLP Act) will be processed in the Central Processing Centre (CPC),” the
ministry said.
The ministry said that these include: Filing of
Resolutions and Agreements (MGT-14), Alteration in Capital (SH-7),
Change in Name (INC-24, Conversion of One Person Company to Private or
Public or Private to OPC (INC-6), Return of Deposits (DPT-3),
Application for obtaining the status of dormant company (MSC-1), Letter
of offer for Buy-Back (SH-8), Declaration of Solvency (SH-9) and Return
in respect of buy-back of securities (SH-11).
The ministry said
that the CPC will process applications in a time-bound and faceless
manner on the lines of Central Registration Centre (CRC) and Centralised
Processing for Accelerated Corporate Exit (C-PACE).
“Based on
filing trends, it is expected that about 2.50 lakh forms will be
processed through CPC annually, once it is fully operational,” the
ministry said.
The ministry said that as of now, 4,910 forms have been received by CPC after commencing operations.
“The
forms shall be processing a timebound and faceless manner and the
processing of applications at CRC and C-PACE also does not require any
physical interaction with the stakeholders,” the ministry said.
It
said that due to consistent efforts taken by MCA towards Ease of Doing
Business, Incorporation of LLPs and companies is highest as compared to
any of the previous financial years as on February 14.
The
ministry said that under C-PACE, applications filed for voluntary
closure of companies are getting processed in Non-STP within an average
time of less than 4 months (about 100 days) compared to an average time
of more than 18 months earlier. C-PACE has processed and closed 12,441
companies so far.
“Only 3,368 applications are pending with C-PACE, the lowest as compared to any previous year,” the ministry said.
