MCA offers e-adjudication, e-consultation to boost stakeholder confidence

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The Ministry of Corporate Affairs (MCA) has introduced e-adjudication and e-consultation platforms to streamline legal proceedings and foster a more business-friendly regulatory environment, a senior official said on Wednesday.

Addressing the ASSOCHAM-ACCA Global Summit on Responsible Corporate Governance and Sustainability Reporting, Anita Shah Akella, CEO of the Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary at MCA, highlighted the government's commitment to balancing corporate integrity with economic dynamism.

The introduction of e-adjudication and e-consultation platforms aims to simplify legal procedures, improve stakeholders' experience, and bolster India's ranking in the ease of doing business.

"We are moving more towards an ease of doing business era, and an ease of exit of business doing era," she said.

The corporate affairs ministry has decriminalised various offences under the Companies Act, 2013, marking a significant shift towards a regulatory framework that encourages entrepreneurial activity.

In addition, amendments to the Competition Act, have strengthened mechanisms to deter anti-competitive practices, further ensuring fair play in the market.

Akella underscored the government's focus on creating an investment-friendly environment.

"India is being positioned as a global destination for investment and business growth. The aim is to attract global players to invest, operate, and generate sustainable profits here," she said.

Acknowledging the crucial role of the domestic industry, particularly MSMEs, Anita Shah Akella emphasised the importance of providing targeted support.