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Ministry of Corporate Affairs to launch MCA21 Version 3.0 Portal in Fiscal 2021-22;1st Mission Mode e-Governance Project of GoI

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MCA21 Version 3The Ministry of Corporate Affairs (MCA) is set to launch the portal ‘MCA21 Version 3.0’ during the Fiscal Year 2021-22. The portal will be the 1st Mission Mode e-Governance project of Government of India (GoI).

  • MCA21 portal is used by companies for submitting various documents as part of compliance requirements under the company law.
  • It is set to be driven by Data Analytics and will have additional modules for e-Adjudication, e-Consultation and Compliance Management.
  • The portal will be equipped with Micro-services architecture for advanced analytics & emerging digital technologies like Artificial Intelligence (AI) & Machine Language (ML).

i.Objective:

  • To Strengthen enforcement & transform Corporate regulatory environment in India
  • Promote Ease of Doing Business
  • Enhance user experience
  • Facilitate seamless integration and data exchange among regulators

Key Components of MCA21 Portal:

e-Scrutiny:

  • MCA is set to establish a Central Scrutiny Cell for inspecting some Straight Through Process (STP) Forms filed by Corporates on the MCA21 registry.
  • The cell will flag companies which require in-depth scrutinies.

e-Adjudication:

  • For managing the rising volume of adjudication proceedings by Registrar of Companies (RoC) & Regional Directors (RD).
  • Will ensure complete digitisation of the adjudication process.
  • Will serve as a platform for conducting online hearings with concerned parties.

e-Consultation:

  • To automate and enhance the process of public consultation on proposed amendments & draft rules.
  • It will also help in AI driven sentiment analysis, consolidation and categorization of stakeholders’ inputs & creation of reports on the basis.

Compliance Management System (CMS):

  • It will assist MCA to identify non-compliant companies/Limited Liability Partnerships (LLPs) and issue e-notices to the defaulters.
  • It will also raise alerts for internal users of MCA about defaulters.
  • It will serve as a technology platform/solution for performing rule based compliance checks & undertaking enforcement drives of MCA (issuing e-notice prepared by MCA for administration of corporates).

MCA Lab:

  • Establishment of a MCA Lab consisting of corporate law experts for evaluating the efficacy of CMS, e-consultation modules & all others.

MCA21 V3 will also have a cognitive chatbot enabling helpdesk, mobile apps, interactive dashboards, enhancing user experience using UI/UX technologies & continuous data dissemination through Application Programming Interface (APIs).

About Ministry of Corporate Affairs (MCA):

Union Minister – Nirmala Sitharaman (Rajya Sabha Member – Constituency – Karnataka)
Minister of State – Anurag Singh Thakur (Lok Sabha Member Constituency – Hamirpur(Himachal Pradesh))