Over three lakh filings under MCA-21, directors dbase next

NEW DELHI: India Inc had filed about 3 lakh balance sheets and annual returns electronically by December 2006, through MCA 21, the e-governance project of the company affairs ministry, which was rolled out in all 20 Registrar of Company (RoC) offices in September last year. The facility has substantially improved the regulatory compliance of corporates, a ministry official told ET.

According to the ministry’s outcome budget, tabled in Parliament in the Budget session, about 80% of the documents are currently being filed by the stakeholders directly using the portal. Only 10% of the documents are being filed through the certified filing centres and another 10% by the facilitation centres set up under MCA 21. This, the ministry reckons, shows that the process of transition has been very smooth and the stakeholders have accepted the programme without any problems.

The Outcome Budget also drew up a plan for the current fiscal to take the e-governance programme forward. These include achieving stability and reliability of the system, correction and validation of the companies’ database and enhancement of end user services through a second round of re-engineering the e-forms. Resolution of stamp-related issues to switch over to complete paperless filings and building up of a database of the directors of companies are the other two steps to be taken this fiscal.

MCA21 offers availability of all the services of the ministry including filing of documents including the statutory ones, registration of companies and public access to corporate information through a secured portal.

The e-governance project also comprises a host of other features such as the director identification number to establish the identity of the directors, digital signature for filing documents and on-line payment facility through credit card and internet banking. A total of 200 bank branches are authorised to accept payment of statutory fees of off-line mode. MCA21 is estimated to cost Rs 341 crore.