The Ministry of Corporate Affairs (MCA) has introduced significant upgrades to its digital corporate compliance system through the MCA21 Version 3.0 (MCA V3.0) portal. Originally launched in 2006 to digitize corporate filings and streamline compliance, the updated portal aims to enhance enforcement, simplify business operations, and improve user experience. New features such as web filings, e-Adjudication, e-Consultation, an e-Book, and a Learning Management System have been integrated to expand functionality. Currently, around 21.40 lakh companies and Limited Liability Partnerships (LLPs) utilize the portal, along with over 60 lakh individual users, including directors, professionals, and corporate officers.
To address the growing relevance of Artificial Intelligence (AI) in corporate practices, the Competition Commission of India (CCI) has undertaken a study to assess AI’s impact on competition. This study, commissioned to the Management Development Institute Society, Gurugram (MDIS), focuses on understanding AI’s potential in fostering or impeding fair competition.
The government highlighted that the MCA V3.0 portal is central to its efforts to promote e-governance and compliance transparency. At the same time, the study on AI signifies a proactive approach to mitigating risks associated with its misuse in anti-competitive practices.
These initiatives reflect the government’s efforts to modernize regulatory frameworks and ensure that digital advancements align with fair business practices and compliance norms.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO. 1055
ANSWERED ON MONDAY, DECEMBER 02, 2024
AGRAHAYANA 11, 1946 (SAKA)
Beneficiaries of MCA V3.0 Portal
QUESTION
1055. SHRI ARUN BHARTI
Will the Minister of CORPORATE AFFAIRS
be pleased to state:
(a) Whether the Government has undertaken any measures for the establishment of a digital corporate compliance infrastructure and if so, the details thereof;
(b) the details of the MCA V3.0 portal launched by the Government for enhancing e-governance along with the number of beneficiaries of the MCA V3.0 portal;
(c) whether the Government has undertaken any study to understand the impact of Artificial Intelligence in anti-competitive practice and if so, the details thereof; and
(d) the details of the steps taken by the Competition Commission of India to reduce the ill-use of Artificial Intelligence in conducting anti-competitive practices?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF CORPORATE AFFAIRS; MINISTER OF STATE
IN THE MINISTRY OF ROAD TRANSPORT AND HIGHWAYS
[SHRI HARSH MALHOTRA]
(a) & (b): The MCA21 portal was launched in 2006 to digitise corporate filings, improve compliance and provide stakeholders with secured access to MCA services. Version-3 of MCA21 has been launched to further strengthen enforcement, promote Ease of Doing Business and enhance user experience. Through MCA21 V3, functionalities like Web filings, e-Adjudication, e-Consultation, e-Book, Learning Management System etc have been introduced. Around 21.40 lakh Companies & LLPs are availing the Services of MCA21 portal. Additionally, more than 60 lakh individual users including Directors, Practicing Professionals, Company Nodal Officers are directly using MCA21 services.
(c) & (d): The Competition Commission of India (CCI) has commissioned a study on Artificial Intelligence (AI) and Competition by Management Development Institute Society, Gurugram (MDIS).
