ICAI actively involved with MCA in the rollout of MCA V3.0
Version 3.0 of MCA21, which is India’s first mission mode e-governance project, will be fully rolled out in the next two to three months, Secretary in the Ministry of Company Affairs (MCA), Rajesh Verma, said on Wednesday.
“We are implementing version 3.0 in phases, based on feedback, making mid-course corrections. All the modules will be fully rolled out in the next couple of months,” Verma told BusinessLine on the sidelines of an ICAI organised ICONIC day programme, as part of the Azadi ka Amrit Mahotsav celebrations.
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.
So far, version 3.0 has been rolled out for limited liability partnerships (LLPs). The next step would be to on-board corporates currently on version 2.0, said experts. L&T Infotech has the contract for operating and maintaining MCA21 V3.0.
The MCA has meanwhile convened a meeting on MCA 21 V 3.0 with representatives of three professional institutes on June 13 to discuss the implementation of other modules, sources said.
While presenting the Budget for 2021-22, Finance Minister and Corporate Affairs Minister Nirmala Sitharaman had 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, among others.
This project has planned a micro services 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 (AI) and Machine Learning (ML). The first phase of MCA21 V3.0, launched last year, comprised a revamped website, new email services for MCA Officers and two new modules, namely, eBook and eConsultation.
Meanwhile, Verma said the Institute of Chartered Accountants of India (ICAI) is “actively involved” in the launch of the MCA21 V3.0.
MCA21 V3.0 is expected to emerge as a catalyst for 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
Published on June 08, 2022