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Centre for Processing Accelerated Corporate Exit (C-PACE)

 

Source: PIB

 Context: The Ministry of Corporate Affairs (MCA) has established the Centre for Processing Accelerated Corporate Exit (C-PACE) to centralize the process of striking off companies from the MCA Register.

 

What is striking off?

Striking off companies from the Ministry of Corporate Affairs (MCA) Register means removing defunct, non-operational, or dissolved companies from the official database.

 

About C-PACE 

C-PACE (founded: March 2023; HQ: at the office of Indian Institute of Corporate Affairs (IICA) in Gurgaon)   aims to ensure a clean registry, provides hassle-free filing and timely, process-bound striking off of company names from the Register.

  • C-PACE operates through the Registrar of Companies (RoC) and is part of MCA’s efforts to improve the Ease of Doing Business and facilitate company exits.