Govt plans introducing artificial intelligence system in MCA 21 portal - Pragnya IAS Academy - News Analysis.

Govt plans introducing artificial intelligence system in MCA 21 portal.

MCA 21 is the electronic backbone for the dissemination of information to all stakeholders, including the regulator, corporates and investors.

Corporate affairs ministry plans to introduce artificial intelligence system in the MCA 21 portal as it seeks to make compliance process easier as well as ensure routine enforcement activities are done round-the-clock on autopilot basis.
MCA 21 is the electronic backbone for the dissemination of information to all stakeholders, including the regulator, corporates and investors. All filings under the companies law are submitted to the ministry through this portal.
Corporate Affairs Secretary Injeti Srinivas has said the ministry would look to "introduce Artificial Intelligence in MCA 21 when version 3 of the portal is rolled out in about a year's time".

It will look to rationalise all the forms, follow the principle of a single source of truth so that one is not required to fill in known details again (as it will get filled automatically) and also interlink databases, so that routine enforcement is done 24x7 on autopilot basis," he said.
In the ministry's monthly newsletter, Srinivas also said that MCA 21 allows electronic filings of various documents under Companies Act, 2013 and has fully automated all processes related to enforcement and compliance monitoring under the Act.
Earlier this year, the ministry sought applications from service providers to develop as well as operate the upgraded version of MCA 21 system.
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. (Source: Livemint)


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Govt plans introducing artificial intelligence system in MCA 21 portal.

MCA has constituted a 10-Member Committee to review the offences under the Companies Act, 2013 - Pragnya IAS Academy - News Analysis.

MCA has constituted a 10-Member Committee to review the offences under the Companies Act, 2013 .

The Ministry of Corporate Affairs (MCA) has constituted a 10 Member Committee, headed by the Secretary of Ministry of Corporate Affairs, for review of the penal provisions in the Companies Act, 2013 may be setup to examine ‘de-criminalisation’ of certain offences.

The MCA seeks to review offences under the Companies Act, 2013 as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default. This would also allow the trial courts to pay more attention on offences of serious nature. Consequently, it has been decided that the existing compoundable offences in the Companies Act - 2013 viz. offences punishable with fine only or punishable with fine or imprisonment or both may be examined and a decision may be taken as to whether any of such offences may be considered as ‘civil wrongs’ or ‘defaults’ where a penalty by an adjudicating officer may be imposed in the first place and only consequent to further non-compliance of the order of such authority will it be categorised as an offence triable by a special court.
It is also required to be seen as to whether any non-compoundable offences viz. offence punishable with imprisonment only, or punishable with imprisonment and also with fineunder the Companies Act, 2013 may be made compoundable.
The Committee shall submit its report within thirty days to the Central Government for consideration of its recommendations.
The terms of reference of the Committee are as follows:
i. To examine the nature of all ‘acts’ categorised as compoundable offences viz. offences punishable with fine only or punishable with fine or imprisonment or both under the CA-13 and recommend if any of such ‘acts’ may be re-categorised as ‘acts’ which attract civil liabilities wherein the company and its ‘officers in default’ are liable for penalty;
ii. To review the provisions relating to non-compoundable offences and recommend whether any such provisions need to be re-categorised as compoundable offence;
iii. To examine the existing mechanism of levy of penalty under the CA-13 and suggest any improvements thereon;
iv. To lay down the broad contours of an in-house adjudicatory mechanism where penalty may be levied in a MCA21 system driven manner so that discretion is minimised;
v. To take necessary steps in formulation of draft changes in the law;
vi. Any other matter which may be relevant in this regard. (Source: PIB)


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MCA has constituted a 10-Member Committee to review the offences under the Companies Act, 2013.