MCA-21 glitches: Pilot says cos to get more time for filing

Feb 22 2013, 22:08 IST
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Sachin Pilot Sachin Pilot
SummaryThe MCA 21 portal has been facing glitches since the maintenance contract has gone to Infosys.

The government will give extra time to waive the additional fees on companies following glitches in the electronic filings system MCA-21, Corporate Affairs Minister Sachin Pilot said today.

The MCA 21 portal has been facing glitches since the maintenance contract has gone to Infosys. Earlier, the site was being maintained by TCS. Recently, the Ministry sought the help of the Tata group company to temporarily assist Infy to resolve the glitches.

"The MCA-21 website is expected to start next week and the companies will get extra time for transitions. We will also not make companies pay for the delay in filing," Pilot said on the sidelines of a conference at the BSE here.

The MCA-21 portal is the key platform for companies to submit the required documents and filings to the Registrar of Companies (RoC). Besides, the website provides public access to corporate information.

Infosys took over the MCA 21 initiative from TCS on January 17. But since then concerns have been raised over glitches in MCA 21, including slow speed and difficulties in uploading documents.

The ministry move is expected to provide relief to companies and various other stakeholders who are required to provide corporate information within a specific time.

Acknowledging that there are issues, Pilot said, "we were expecting smooth transition but it could not happen as per our expectations."

Pilot also said the government is confident of getting the new Companies Bill passed in the Rajya Sabha in the ongoing Budget session, which began yesterday.

On the Sahara case, Pilot said the matter is sub-judice. However, he said the government is considering tough new norms to avoid misuse of raising fund through private placements.

He also said the ministry will be writing to the chief ministers to take action against fraudulent chit funds and protect small investors.

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