Introduction
The Ministry of Corporate Affairs vide notification dated February 14, 2024, established a Central Processing Centre (“CPC”) to serve as a hub for various corporate filings, streamlining procedures and fostering a business-friendly environment. In alignment with the Union Budget Announcement 2023-24, the CPC aims to centralize the processing of various regulatory requirements under the Companies Act and Limited Liability Partnership Act, requiring no physical interaction with the stakeholders.
Effective Date - February 16, 2024
The MCA notification outlines several key features of the newly established Central Processing Centre to enhance the Ease of Doing Business.
As per Rule 10A of the Companies (Registration Offices and Fees) Amendment Rules, 2024:
The Registrar of the Central Processing Center established under sub-section (1) of section 396 shall examine or cause to be examined every application or e-Form or document required or authorised to be filed or delivered as provided under sub-rule (3), for approval, registration, or taking on record by the Registrar.
The Registrar shall decide on the application, e-forms, or documents within thirty days from the date of its filing excluding the cases in which approval of the Central Government or a Regional Director or any other competent authority is required.
The provisions of sub-rule (2) to (5) of rule 10 shall apply mutatis mutandis in relation to the examination of application, e-Forms, or documents under this rule.
The Registrar of the Central Processing Centre shall exercise jurisdiction all over India in respect of the examination of the following application, e-Forms, or documents, namely-
Sr. No. | Particulars | Name of e-Form |
1. | Filing of Resolutions and agreements to the Registrar under section 117 of the Act. | MGT-14 |
2. | Notice to Registrar of any alteration of share capital under section 64 of the Act. | SH-7 |
3. | Application for approval of Central Government for change of name under section 13 of the Act. | INC-24 |
4. | One Person Company-Application for Conversion under section 18 of the Act. | INC-6 |
5. | Conversion of a public company into a private company or private company into a public company under sections 14 and 18 of the Act. | INC-27 |
6. | Intimation to Registrar of revocation/surrender of license issued under section 8 of the Act. | INC-20 |
7. | Return of deposits under sections 73 and 76 of the Act. | DPT-3 |
8. | Application to ROC for obtaining the status of a dormant company under sub-section (1) of section 455 of the Act. | MSC-1 |
9. | Application for seeking the status of active company under sub-section (5) of section 455 of the Act. | MSC-4 |
10. | Letter of Offer under section 68 of the Act. | SH-8 |
11. | Declaration of Solvency under sub-section (6) section 68 of the Act. | SH-9 |
12. | Return in respect of buy-back of Securities under sub-section 10 of section 68 of the Act. | SH-11 |
In case of multiple applications, e-forms, or documents are filed at a time under sub-rule (4), then all the applications, e-Forms, or documents shall be examined and decided by the Registrar of the Central Processing Centre.
Nothing in this rule shall confer any power on the Registrar of the Central Processing Center under section 399 of the Act in case of applications, e-Forms, or documents filed under sub-rule (4), and the Registrar having territorial jurisdiction shall continue to exercise his powers under the said section.
Conclusion
The MCA's notification establishing a Central Processing Centre marks a significant milestone in the journey towards a more digitally driven, efficient, and transparent corporate ecosystem. While businesses may need to adapt to the changes, the long-term benefits are expected to far outweigh any initial challenges. It is advisable for businesses to stay updated with official communications from the MCA and seek guidance from relevant authorities to ensure a smooth transition and compliance with the new regulations.
MCA Notification
This article has been co-authored by Raksha Paliwal (Executive, Transaction Advisory-Legal & Compliance), and Purvi Jani (Principal Associate, Transaction Advisory-Legal & Compliance).
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