The Corporate Affairs Ministry (MCA) has asked banks and financial institutions to carefully follow the roll check process devised for authorised digital signatories under the ministry's e-governance platform, MCA-21.

"The operational process of MCA-21 has been adapted to suit the electronic filing with the introduction of facilities like e-form, online mode of payments etc., along the philosophy of 'anywhere at any time' access to MCA-21 services," the MCA said.

It added that the use of DSCs has been mandated for all filings to ensure the security and integrity of documents filed with the Registry.

The ministry has introduced role-check of DSCs for directors of companies and professionals.

"Following the same process a mechanism has been formulated to implement similar role-check to establish the veracity of authorised signatories of banks and financial institutions, which is important for charge-related services," it said.

Banks and FIs advance credit to the companies and create a charge on the assets so financed. The charges so created are required to be registered with the Registrars of Companies in order to be a secured creditor.

The registration or modification of a charge are filed with the Registrar through the prescribed form which has to bear the Digital Signatures of the company representative as well as the authorised signatory from the bank or FI.