The government plans to introduce artificial intelligence system in the MCA 21 portal as it seeks to make the compliance process easier as well as ensure routine enforcement activities are done round-the-clock on autopilot basis. MCA 21 is the electronic backbone for the dissemination of information to all stakeholders, including the regulator, corporates and investors. All filings under the companies law are submitted to the ministry through this portal.
Ministry of Corporate Affairs Secretary Injeti Srinivas has said the ministry would like to introduce Artificial Intelligence in MCA 21 when version 3 of the portal is rolled out in about a year’s time. In the ministry’s monthly newsletter, Srinivas also said that MCA 21 allows electronic filings of various documents under Companies Act, 2013 and has fully automated all processes related to enforcement and compliance monitoring under the Act.