Govt sets up central registration centre to make company incorporation easier

The ministry of corporate affairs has launched a central registration centre (CRC) to reengineer government process and procedures and speed up company incorporation related services in line with international best practices.

The CRC will look into applications for name availability (INC-1 e-forms) submitted online across the country and will process these by the end of the next working day.

The GPR involves a three-pronged approach of further automating some of the approval processes by utilising advanced software tools and engines, rationalising and modifying some of the rules and engaging professionals to expedite the process of manual scrutiny.

CRC will process applications for name availability (INC-1 e-forms) submitted on line across the country and endeavour to process these by the end of next working day. Operations of the CRC will formally commence with effect from 27 January 2016 and more services will be rolled out progressively.

The GPR exercise is in pursuance of the ministry's objective of providing greater ''ease of doing business'' to corporates and is expected to result in speedier processing of incorporation related applications, uniformity in application of rules, eradicating discretion. It will also be supplemented by intensive monitoring aimed at providing timely approvals.