MCA Launches E- adjudication and E-Consultation Platforms to Boost Business Environment

In a significant move aimed at facilitating statutory proceedings and fostering a business-friendly environment, the Ministry of Corporate Affairs (MCA) has launched e-adjudication and e-consultation platforms, as revealed by Anita Shah Akella, CEO of the Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary at the MCA.

Addressing the Assocham-ACCA Global Summit on Responsible Corporate Governance and Sustainability Reporting, Akella emphasized that these measures are aimed at striking a balance between corporate accountability and economic growth. The e-adjudication and e-consultation platforms will enable the easing of statutory processes, thereby enhancing the stakeholders' experiences and improving businesses' operations in India.

The Ministry has decriminalized several offenses under the Companies Act, 2013, signaling a shift towards promoting entrepreneurial activities while ensuring compliance with statutory regulations. Additionally, amendments to the Companies Act have been implemented to curb anti-competitive practices and promote fair market competition through procedural reforms.

Akella further stated that the government's primary objective is to establish India as a global destination for investment and business growth, attracting international players to invest, operate, and generate sustainable profits in the country.

Recognizing the vital role of micro, small, and medium enterprises (MSMEs) in the Indian economy, Akella highlighted the importance of targeted support for this sector to ensure its robust growth. The government's initiatives aim to build India as a major destination for global investments while fostering sustainable and responsible corporate governance.

The rollout of e-adjudication and e-consultation platforms is not only expected to ease statutory compliance but also instill confidence among domestic and international stakeholders, marking the beginning of a roadmap towards sustained economic growth.