SPV for monitoring e-governance projects: MCA

Written by Neha Pal | New Delhi | Updated: Apr 29 2009, 04:12am hrs
The ministry of corporate affairs plans to set up a special purpose vehicle (SPV) to monitor the e-governance projects undertaken by the ministry such as the MCA-21, limited liability partnership (LLP) and official liquidators.

"The ministry has initiated various e-governance initiatives in the past and is contemplating a common umbrella to monitor the e-governance projects, a senior MCA official told FE .

According to the ministry, the SPV will play the role of a supervisor over looking all the e-governance modes that have been set up.

On the issue of the initiatives undertaken by the ministry for creating the SPV, the official noted, We have engaged a consultant who is currently working on the structure, sources of funds and the scope of the work .

However, the financial details of the SPV; whether it should be fully or partially dependent on the government or totally financially independent.

Till now, two models have already been introduced by the ministry.

The e-governance mode for LLP was launched earlier this month.

Consequently all services for the LLP can be availed online easily. This electronic mode will be on the lines of MCA 21, which is an e-governance mode for companies that come under the Companies Act, 1956.

The e-governance regime is intended to facilitate online filing and access to corporate data , on round the clock basis.

The e-governance model for all official liquidators (OLs) across the country will help the winding-up procedure in India which currently is a tedious process.