The Corporate Affairs Ministry (MCA) on Wednesday announced the next big step in the rollout of Version 3.0 of MCA21, India’s first mission mode e-governance project. It has decided to from September 1 on-board corporates currently on Version 2.0, sources said.
MCA has identified as many as nine company forms —DIR3-KYC Web, DIR3-KYC Eform, DPT-3, DPT-4, CHG-1, CHG-4, CHG-6, CHG-8 and CHG-9 — that will go live from September 1 and would be the first set to be launched on the MCA21 V3 portal.
“In view of the upcoming launch of 9 company forms in version-3, LLP filings on MCA21 V-3 portal will not be available from August 27 (00.00 AM) to August 28 (23.59 hrs). However, MCA21 V-2 portal for company filings will remain available,” MCA said on Wednesday.
MCA also said that remaining company forms and other modules like e-adjudication, compliance management systems are scheduled to be fully deployed within the calendar year.
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MCA is currently rolling out MCA21 version 3.0 in phases to ensure minimum disruption in regulatory filings.
The Version 3.0 module has already been implemented for limited liability partnerships (LLPs).
MCA 21 is the online portal of the MCA, which has made all company-related information accessible to stakeholders and the general public. It was initially launched in 2006.
L&T Infotech has a contract for operating and maintaining MCA21 V3.0.
‘Game changer’ for MCA
Version 3.0 is seen a “game changer” for MCA as it would be able to use the latest technology tools available through this module to get a good handle on the extent and quality of compliances made by Corporate India, a company law expert said.
While presenting the Budget for 2021-22, Finance Minister and Corporate Affairs Minister Nirmala Sitharaman said the government would use data analytics, artificial intelligence and machine learning to launch MCA 21 3.0, which will add facilities such as e-scrutiny, e-consultation, e-adjudication and compliance management.
This project has planned a microservices architecture with high scalability and capability for advanced analytics. It is aligned with global best practices and aided by emerging technologies such as Artificial Intelligence and Machine Learning.
The first phase of MCA21 V3.0, launched last year, comprised a revamped website, new email services for MCA Officers and two new modules eBook and eConsultation.
MCA has been looking to work with the three professional institutes — CA Institute, Company Secretary Institute and Cost Accountants Institute — to implement the various modules under V3.0 of MCA21.
MCA21 V3.0 is expected to emerge as a catalyst for an overhaul of corporate compliance, culture and corporate regulatory environment in the country towards transparency, simplification and meeting the needs of various stakeholders.
MCA21 V3.0 is expected to strengthen enforcement, promote ease of doing business, improve the user experience and facilitate seamless integration and data exchange among regulators.
It will not only improve the existing services and modules but will also create new functionalities like e-adjudication, compliance management system, advanced helpdesk, feedback services, user dashboards, self-reporting tools and revamped master data services