The Hindu Business Line : DCA plugs into e-governance

Mr Prem Chand Gupta, Minister of State for Company Affairs (Independent Charge), said: "We expect the corporate sector to switch over to electronic filing of documents in the next three years. The use of technology will become compulsory from the fourth year."

On how beneficial the system would prove for small unlisted companies, the Minister said, "In today's IT-savvy environment, companies in smaller towns also have access to technology."

Initially access to the facility will be free, but after three years, a fee will be charged, Mr Gupta said.

DCA-21 will be implemented through a build-own-operate-transfer (BOOT) model by a TCS-led consortium.

The services proposed include filing of statutory documents, registration of new companies and availability of documents in the public domain.

For the Government, the benefits include better corporate governance through improved scrutiny of company disclosures and better enforcement of corporate laws, including penalties for non-filing.

It would also mean enhanced revenue because of higher level of compliance and creation of a paperless back-office that would result in savings.

According to TCS, the services would be stakeholder-centric as it would offer direct access to the Ministry.

Further, it would also entail 53 front-offices to convert physical documents to e-documents and four temporary front-offices during the peak period.

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