ARTIFICIAL INTELLIGENCE (AI) IN MCA 21

May 20, 2019

The government plans to introduce artificial intelligence system in the MCA 21 portal as it seeks to make the compliance process easier as well as ensure routine enforcement activities are done round-the-clock on autopilot basis.

About:

What is it? MCA21 is an e-Governance initiative of Ministry of Company Affairs (MCA).
Background: It is the first Mission Mode Project to be launched under the Government of India's National e-Governance plan (NeGP).
Features:
- MCA 21 is the electronic backbone for the dissemination of information to all stakeholders, including the regulator, corporates and investors.
- All electronic filings of various documents under Companies Act, 2013 are submitted to the ministry through this portal. MCA 21 has fully automated all processes related to enforcement and compliance monitoring under the Act.
Recent Decision: Ministry of Corporate Affairs said the ministry would like to introduce Artificial Intelligence in MCA 21 when version 3 of the portal is rolled out in about a year's time.