Sign In
Learn bits
Economy
Mahesh

14/05/23 20:51 PM IST

Centre for Processing Accelerated Corporate Exit (C-PACE)

In News
  • The Ministry of Corporate Affairs (MCA) has moved a step forward by centralising the strike off process of companies with the establishment of the Centre for Processing Accelerated Corporate Exit (C-PACE).
About C-PACE
  • C-PACE is situated at the Indian Institute of Corporate Affairs (IICA) in IMT Manesar, Gurgaon, Haryana. This strategic location provides a conducive environment for efficient processing and disposal of applications.
  • By centralizing the strike-off process, the Registry’s workload will be reduced, ensuring a cleaner registry and more meaningful data for stakeholders.
  • The efficient operation of C-PACE will contribute to a smoother exit process for companies, aligning with the government’s focus on ease of business and creating a conducive environment for entrepreneurship and growth.
  • The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides availability of more meaningful data to the stakeholders.
  • The C-PACE will also benefit the stakeholders by providing a hassle-free filing, timely and process-bound striking off their company’s names from the Register.
  • The C-PACE institution, established under sub-section (1) of section 396, shall be in operation through the Registrar of Companies (RoC) for the purposes of exercising functional jurisdiction of processing and disposal of applications.
Source- PIB

More Related Current Affairs View All

17 Sep

Reasons Behind the heavy rain in Uttarakhand, Himachal

'Dehradun and several other districts in Uttarakhand have experienced very heavy rainfall over the past few days, triggering landslides in multiple areas and causing rivers to swel

Read More

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps