Central Processing Centre (CPC) electronically processes forms and applications under the Companies Act and LLP Act, enhancing Ease of Doing Business by minimizing physical interaction and expediting regulatory processes.
About the Central Processing Centre (CPC):
- It electronically processes forms and applications under the Companies Act and LLP (Limited Liability Partnership Act) Act centrally, eliminating the need for physical interaction with the stakeholders.
- It is aimed at enhancing Ease of Doing Business (EoDB) by minimizing physical interaction and expediting regulatory processes.
- It is established in line with Union Budget Announcement 2023-24.
- It emphasises on time-bound and faceless processing to ensure efficiency and transparency.
- It will facilitate speedy processing of applications for incorporation, closure, and regulatory compliance.
- It complements existing initiatives like Central Registration Centre (CRC) and Centralised Processing for Accelerated Corporate Exit (C-PACE) for seamless business operations.
- CRC, C-PACE, and CPC collectively contribute to expediting processes related to company incorporation, closure, capital alteration, and compliance.
- It will help shifts the focus of Registrar of Companies (RoC) towards core functions of inquiries, inspection, and investigation for robust corporate governance.
Other key facts:
- Initiatives like CRC have led to significant improvements in the speed of company and LLP incorporation.
- Introduction of C-PACE has drastically reduced the time required for voluntary closure of companies, promoting efficiency and ease for businesses.
Ref: Source
| UPSC IAS Preparation Resources | |
| Current Affairs Analysis | Topperspedia |
| GS Shots | Simply Explained |
| Daily Flash Cards | Daily Quiz |