The Ministry of Corporate Affairs ( MCA ), with an aim to enhance the Ease of Doing Business with the establishment of the Central Processing Centre ( CPC ). This initiative, in line with the objectives outlined in the Union Budget Announcement 2023-24, aims to streamline the processing of forms filed under the Companies Act, 2013 and Limited Liability Partnership ( LLP ) Act in a centralised manner, eliminating the need for physical interaction with stakeholders.
Commencing operations on February 16, 2024, the CPC will initially process 12 forms and applications, with plans to expand its scope to include additional forms from April 1, 2024. Once fully operational, it is anticipated that approximately 2.50 lakh forms will be processed annually through the CPC.
| Name of Form | Description |
| MGT-14 | Filing of Resolutions and Agreements |
| SH-7 | Alteration in Capital |
| INC-24 | Change in Name |
| INC-6 | Conversion of One Person Company to Private or Public, or Private to OPC |
| INC-27 | Conversion from Private into Public or Vice Versa |
| INC-20 | Revocation/surrender of licence under Section 8 of the Act |
| DPT-3 | Return of Deposits |
| MSC- 1 | Application for obtaining the status of dormant company |
| MSC- 4 | Application for seeking status of Active Company |
| SH-8 | Letter of offer for Buy-Back |
| SH-9 | Declaration of Solvency |
| SH-11 | Return in respect of buy-back of securities |
Currently, the CPC has received 4,910 forms and is committed to processing them in a time-bound and faceless manner. This approach mirrors the streamlined processing methods already in place at the Central Registration Centre ( CRC ) and Centralised Processing for Accelerated Corporate Exit ( C-PACE ), which also do not require physical interaction with stakeholders.
The establishment of CPC, along with CRC and C-PACE, underscores the government’s dedication to expediting the processing of applications and forms related to incorporation, closure, and regulatory compliance. By facilitating swift company incorporation, closure, capital alteration, and compliance fulfilment under corporate laws, these centralised processing centres contribute significantly to enhancing the business environment.
With the introduction of CPC, the jurisdictional Registrar of Companies ( RoC ) can refocus on core functions such as inquiries, inspections, and investigations, thereby strengthening corporate governance.
Notably, initiatives like CRC have facilitated quicker incorporation of companies, leading to a substantial increase in the number of companies and LLPs incorporated over the years. Furthermore, the establishment of C-PACE has streamlined the voluntary closure process, significantly reducing the processing time and backlog of applications.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
