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Government plans introducing AI system in MCA 21 portal

Government plans introducing AI system in MCA 21 portal

The Union Corporate Affairs Ministry plans to introduce artificial intelligence system in the MCA 21 portal in order to make the compliance process easier as well as to ensure routine enforcement activities are done regularly on autopilot basis.

The Ministry plans to introduce Artificial Intelligence in the MCA 21 portal when its version 3 is rolled out within a year.

The main focus of the Ministry will be to rationalise all the forms and follow the principle of a single source of truth so that one is not required to fill in the known details again, as it will get filled automatically.

MCA 21

MCA 21 allows electronic filings of various documents under the Companies Act, 2013 and has fully automated all processes related to enforcement and compliance monitoring under the Act.

The portal is the electronic backbone for distribution of information to all the concerned stakeholders, including the regulator, corporates and investors.

All the filings under the companies law are submitted to the ministry through this portal.

MCA21 is an e-Governance initiative of Ministry of Corporate Affairs (MCA), Government of India that enables an easy and secure access of the MCA services to the corporate entities, professionals and citizens of India.

The MCA 21 system was started in 2006. The first phase of the e-governance initiative of the ministry was implemented by Tata Consultancy Services and the second phase is being implemented by Infosys for the period from January 2013-July 2021.

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