Context: In its unwavering commitment to Ease of Doing Business, the Ministry of Corporate Affairs (MCA) has operationalized the Central Processing Centre (CPC) for centralized processing of corporate filings. 

• The CPC, modeled after the successful Central Registration Centre (CRC) and Centralised Processing for Accelerated Corporate Exit (C-PACE), will process applications in a time-bound and faceless manner.

About the Central Processing Centre (CPC)

• It is introduced to streamline processing of forms under Companies Act and Limited Liability Partnership Act (LLP Act).

• 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.