Govt. Establishes C-PACE to Provide Hassle-free Filing and Process-bound Striking off Companies from MCA Registry
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 16 May, 2023
Latest from Taxmann
Press Release; Dated: 13.05.2023
The MCA vide Notification No. S.O. 1269(E) dated March 17, 2023 established the Centre for Processing Accelerated Corporate Exit (C-PACE) to facilitate the quick, transparent and process-bound exit of companies.
The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides the availability of more meaningful data to the stakeholders. The setting up of the C-PACE is part of the several measures taken by MCA in the recent past towards ease of doing business and ease of exit for the Companies.
With the establishment of C-PACE under section 396 of the Companies Act, 2013, the striking-off process of companies has been centralized, resulting in reduced stress on the MCA Registry. Also, this initiative ensures hassle-free filing, timely and process-bound striking off their company’s names from the Register.
The Office of C-PACE was inaugurated on 1 May 2023 by Shri R.K. Dalmia, Director, Inspection & Investigation, MCA. Shri Harihara Sahoo, ICLS, has been appointed as the first Registrar of the office of C-PACE. The C-PACE office will work under the supervision/administration of the Director General of Corporate Affairs (DGCoA), New Delhi.
Click Here To Read The Full Press Release
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
