Sitharaman pushes for streamlined corporate governance, directs MCA to build real-time transparency dashboard

New Delhi: Finance and corporate affairs minister Nirmala Sitharaman on Tuesday highlighted the need for simplification in processes and making systems user-friendly. While reviewing the working of regional directorates and registrars of companies, Sitharaman noted that the driving principle should be to make governance easy and transparent and focus on facilitation.

"This vision (Viksit Bharat 2047) can only be realised if timely modernisation of the systems and processes takes place," she said, asking the ministry of corporate affairs (MCA) to strive to be able to serve stakeholders in a time-bound manner. The minister has directed the MCA to build a live dashboard to ensure more transparency in the systems, an official statement said.

The finance minister exhorted the MCA officials to find effective ways to convey legal requirements to stakeholders and also suggested holding frequent in-house discussions to suggest measures for enhancing ease of doing business, the statement said.


The ministry's statement said discussions were held on issues of processing of forms, fast-track mergers, delivery of services like incorporation / voluntary exit of companies / LLPs through the central facilities, e-governance, harmonisation of forms, matters related to adjudication, inquiries, inspection and investigation (3Is) manuals, prosecution, appeals against adjudication orders, and compounding of violations.