New Delhi, Nov 25 — Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday chaired a comprehensive review meeting with the Regional Directorates and Registrars of Companies (ROCs) in New Delhi, stressing the need for simplification of processes, improved user experience, and greater transparency across the Ministry of Corporate Affairs (MCA).
The meeting was attended by Minister of State for Corporate Affairs Harsh Malhotra, the MCA Secretary, senior officials, and representatives from all subordinate offices.
Focus on user-friendly governance
Sitharaman emphasized that India’s journey toward Viksit Bharat 2047 requires modern, efficient, and citizen-centric systems. She directed the Ministry to ensure that governance becomes “easy, transparent and facilitative”, highlighting the importance of timely modernization and digitisation.
The Finance Minister further instructed MCA to develop a live dashboard to enhance transparency and enable real-time monitoring of processes.
During the interactions, officials reviewed key operational areas including: processing of e-forms, fast-track mergers, incorporation and voluntary exit of companies/LLPs, e-governance measures, harmonisation of statutory forms, adjudication, inquiries, inspections and investigations and compounding of corporate violations.
The MCA Secretary informed the Minister that the Ministry has already standardised its enforcement manuals and is simplifying rules to improve service delivery and reduce delays.
Sitharaman noted that frequent legislative reforms — including those under the Insolvency and Bankruptcy Code (IBC) — reflect India’s commitment to responsive, reform-driven governance.
Strengthening corporate governance
Lauding India’s corporate governance framework for fostering trust through transparent financial reporting, the Finance Minister underlined MCA’s central role in guiding companies toward stronger governance structures.
She urged officials to enhance communication with stakeholders and hold frequent internal discussions to improve Ease of Doing Business (EoDB) and promote clarity on legal requirements.
‘Maximum governance, minimum government’
Minister of State Harsh Malhotra reiterated that MCA must follow the Prime Minister’s vision of “maximum governance, minimum government.” He emphasised reducing compliance burdens by rationalising forms, improving turnaround times, and providing digital guidance—such as instructional videos—to help companies navigate requirements more easily.
Malhotra also encouraged regular engagement with stakeholders to ensure timely resolution of concerns and to strengthen the Ministry’s support to the corporate sector.
