Plans to centralize decision-making on all regulatory forms filed by companies will be implemented by December with the task being transferred from Registrars of Companies (RoCs) to a central facility, said a person informed about the shift.
Right now, only decisions on applications for voluntary closure are centralized, making exits easier for companies with no assets and liabilities.
“By December, all regulatory forms will be centrally processed. The idea is to ensure ease of entry, ease of exit and ease of living for businesses," said the person, adding that the move will be a major milestone in improving ease of doing business.
The ministry of corporate affairs is currently giving final shape to the changes needed in the flow of regulatory processes to execute the project.
This initiative is different from the ongoing technological upgrade of the MCA21 portal where companies and limited liability partnerships (LLPs) have to file their regulatory forms.
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