A record 82,628 Companies and LLPs Were Incorporated between April and July: MCA
The Ministry of Corporate Affairs (MCA) reported on 2nd August 2023 that a record-breaking 82,628 companies and limited liability partnership (LLP) organizations were incorporated on the MCA21 platform in the first four months of this fiscal year. Similar to that, it claimed in a series of tweets that between April and July, 1.96 million forms were submitted using the MCA21 (Version 3, or V3) portal.
Nirmala Sitharaman, the minister of finance and corporate affairs, had earlier this year issued a directive to MCA secretary Manoj Govil to resolve the issues as soon as possible to prevent any inconvenience for stakeholders in response to ongoing criticism of the technical faults on the MCA21 (V3) portal.
The government made the decision to gradually roll out the submission of different forms through the MCA21 (V3) site. In March 2022, the filing of 20 forms designed for LLPs went into effect. Thousands of LLPs submitted approximately 5,21,000 forms on the most recent version of the portal in 2022–2023 as opposed to roughly 474,000 forms on the earlier one (V2) in 2021–2022. Nine forms for directors, charges, and deposits related to KYC (know your customer) were established in August 2022. In 2022–2023, about 2.8 million of these forms were submitted through the V3 portal, which is about 150,000 higher than the previous year.