The Ministry of Corporate Affairs through press release dated 05 February 2021 has declared the launch of data analytics driven MCA 21 Version 3.0. by Fiscal year 2021-2022. The key components of MCA 21 to be launched during Fiscal Year 2021-22 are:
- e-Scrutiny: MCA is in process of setting up a Central Scrutiny Cell which will scrutinise certain Straight Through Process (STP) Forms filed by the corporates on the MCA21 registry and flag the companies for more in depth scrutiny.
- E-adjudication: E-adjudication module will facilitate end to end digitisation of the process of adjudication, for the ease of users. It will provide a platform for conducting online hearings with stakeholders and end to end adjudication electronically.
- e-Consultation: To automate and enhance the current process of public consultation on proposed amendments and draft rules etc.
- Compliance Management System (CMS): CMS will assist MCA in identifying noncompliant companies/LLPs, issuing e-notices to the said defaulting companies/LLPs, generating alerts for internal users of MCA.
- MCA Lab: As part of MCA21 V3, a MCA LAB is being set up, which will consist of corporate law experts. The primary function of MCA Lab will be to evaluate the effectiveness of Compliance Management System, e-consultation module, enforcement module, etc.
