CII welcomes amendments to the Companies Act, 1956

New Delhi, May 19 (UNI) CII President R Seshasayee today welcomed the amendments to the Companies Act, 1956, moved by the Ministry of Company Affairs (MCA) to support implementation of the MCA-21 Initiative.

The CII President commended the government for honouring its commitment to introduce e-governance to simplify procedures, to make government services citizen-friendly and reduce the burden and cost of compliance.

''The initiative would go a long way in reducing the procedural delays and costs associated with compliance and also reduce the interface between the government and the business, leaving more time with the Ministry for surveillance,'' Mr Seshasayeehe said in an statement released here.

The amendments provides the enabling framework for successful implementation of online electronic processes under MCA-21 Initiative.

Under this e-Governance initiative, Offices of the Registrar of Companies, MCA, would accept documents in electronic form duly authenticated with digital signatures and online payment of statutory fees.

Through this amendment, new sections have been inserted in the Companies Act, 1956, so as to make provisions for electronic filing system, payment of fees through electronic form and documents inspection in the Companies Act, 1956.

UNI PV VD BD2002