Govt to speed up company incorporation process
As part of the Government Process Re-engineering (GPR) to ensure ease of doing business in the country, the government has initiated the Central Registration Centre (CRC), a mechanism that will ensure speedy incorporation related services within stipulated time frames. “The GPR involves a three-pronged approach of further automating some of the approval processes by utilising advanced software tools & engines, rationalising and modifying some of the rules and engaging professionals to expedite the process of manual scrutiny,” Ministry of Corporate Affairs said in a statement. The latest decision has been taken keeping in mind the international best practices to undertake speedier and uniformly processing of applications, thus doing away with discretion. The initiative has been launched on the occasion of Republic Day 2016, while the operations of the CRC will formally commence from January 27, 2016 and more services to be rolled out progressively. In the first phase, the CRC will process applications for name availability submitted online across the country, and endeavour will be made to process these by the end of next working day. “The GPR exercise is in pursuance of the ministry’s objective of providing greater “Ease of Doing Business” to corporate. It will also be supplemented by intensive monitoring aimed at providing timely approvals,” it said.
January 25, 2016 | 05:50pm IST
to success.