Ministry of Corporate Affairs Facility for e – Adjudication

January 28, 2023

The Ministry of Corporate Affairs launched the MCA21 to speed the access to the services of the ministry. Recently, the ministry added some key features to MCA21. They are e – adjudication, compliance management, and e-consultation. Adjudication means a judgment on a dispute. E-adjudication is an online dispute-solving platform. It will reduce the number of cases going to the NCLT (National Company Law Tribunal). Also, the E – Adjudication will increase the ease of doing business.

About the E – Adjudication facility

The facility will try and reduce the crimes listed under the Companies Act
It will try and reduce the compliance burdens
Physical meetings have been relaxed to increase the success rate of the facility. All discussions shall be made through video conferencing

Other recent activities of MCA

Apart from these measures, the Ministry of Corporate Affairs will also set up a center that will speed up the processes involved in the exit of a corporate.
MCA21 has been linked with CBDT, PAN, and TAN
The number of new companies is increasing. In 2015, the number of new companies in the country was 64,300. In 2022, the number has increased to 167,000
The ministry of to complete the entire process of corporate revamping by March 2023

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