MCA to launch SPICE in Dec to strengthen ease of doing business

India aims to become the arbitration hub

taru

Taru Bhatia | November 3, 2016 | New Delhi


#Ramesh Abhishek   #corporate affairs ministry   #MCA   #SPICE   #DIPP   #FICCI  


By December-end, the ministry of corporate affairs will launch Simplified Proforma for Incorporating a Company Electronically (SPICE), an e-form that will eliminate the need to fill multiple forms by business entities in India, Ramesh Abhishek, secretary, Department of Industrial Policy and Promotion (DIPP) said at a FICCI event on Wednesday.

He said that the main objective of launching SPICE is to provide speedy incorporation related services within a stipulated time-frame, in line with international best practices. The measures are part of improving ease of doing business in India.
 
He further added that enforcement of contracts is another challenged faced by corporate sector in the country. “We have commercial benches in high courts and ranks are improving in enforcement of contracts. But we still have a long way to go.
 
Hence, we are planning to set up more commercial courts next year and make them paperless, that would include e-courts, e-filing, e-services and uploading of orders on the internet.”
 
India aims to become the arbitration hub and was working towards it, the secretary said, adding that with the insolvency and bankruptcy code 2016 and GST roll-out next April, the business environment will improve in India.
 
Speaking about performances of states, the secretary mentioned that the DIPP recently ranked states on 340 parameters on ease of doing business. “Up to 15 states have crossed 75 percent and 12 states have got score more than 91 percent. This shows that states are working hard, along with the central government, to improve their processes and procedures on ease of doing of business.”  Soon a feedback mechanism would be included in the state rankings, he added.

 

Comments

 

Other News

Sowing wheat earlier can help increase yields in India: US researcher

Yield gaps in wheat production in India can be countered with an earlier sowing date, says a University of Michigan researcher.   Using a new way to measure wheat yields, Meha Jain, assistant professor at the U-M School for Environment and Sustainability, found that the wheat yie

Giving birth as a Baiga

Kharpariya village, about 50 km from the headquarters town of Madhya Pradesh’s Mandla district, is like many villages in the region, home to the Baiga, deemed a particularly vulnerable tribal group (PVTG) for whom permanent contraception methods are banned to prevent extinction. However, care for p

Being the prime minister’s brother

Somabhai Modi says he remembers only one occasion when he offered his younger brother prime minister Narendra Modi advice regarding work. This, he says, was when Modi was chief minister of Gujarat. After one of his weekly grievance redressal sessions, the then chief minister had enquired after the well-b

Should ration cards not linked to Aadhaar be rendered ineligible?

Should ration cards not linked to Aadhaar be rendered ineligible?

INS Kiltan commissioned into Indian Navy

 INS Kiltan, the third anti-submarine warfare (ASW) stealth corvette built under project 28 (Kamorta class), was commissioned into the Indian Navy by defence minister Nirmala Sitharaman at the naval dockyard in Visakhapatnam.    The anti-submarine warfare stealth corvet

SAIL`s special grade steel used to build stealth corvette

Maharatna enterprise, Steel Authority of India Ltd. (SAIL) has supplied defence grade micro-alloyed grade of steel (DMR 249A) steel plates for the indigenously built anti-submarine warfare (ASW) stealth corvette INS-Kiltan commissioned into Indian Navy.    SAIL’s integ



Video

Grand Diwali celebrations in Ayodhaya on eve of diwali

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter