Home   »   Miscellaneous   »   MCA Introduces C-PACE for Streamlining Company...

Ministry for Corporate Affairs Introduces C-PACE

Ministry for Corporate Affairs Introduces C-PACE

The Ministry of Corporate Affairs (MCA) has established the Centre for Processing Accelerated Corporate Exit (C-PACE) to streamline the process of removing companies from the MCA Register. The purpose of C-PACE is to reduce the burden on the registry and provide a convenient process for stakeholders to remove their company’s name from the register.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

C-PACE Introduced by MCA: Key Points

  • This initiative is part of MCA’s effort to make doing business and exiting easier for companies.
  • C-PACE will operate under the Registrar of Companies (RoC) and will handle applications for processing and disposal.
  • The office of C-PACE was inaugurated on May 1, 2023, by R.K. Dalmia, the director of inspection and investigation at MCA.
  • Harihara Sahoo, ICLS, has been appointed as the first registrar of C-PACE, which will be supervised by the Director General of Corporate Affairs (DGCoA), New Delhi.
  • The establishment of C-PACE will help maintain a clean registry and provide stakeholders with more valuable information.
  • With the introduction of C-PACE, companies can expect a smoother exit process without any hassles.

Important Takeaways For All Competitive Exams

  • Minster for Corporate Affairs: Smt Nirmala Sitharaman
  • First registrar of C-PACE: Harihara Sahoo

Also Read: Cyclone Mocha: All About The Storm

Find More Miscellaneous News Here

MCA Introduces C-PACE for Streamlining Company Name Removal from Register_4.1

Cyclone Mocha: All About The Storm_90.1