Govt. Establishes C-PACE to Provide Hassle-free Filing and Process-bound Striking off Companies from MCA Registry
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- Last Updated on 16 May, 2023
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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.
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