New Delhi, May 21 (KNN) The Ministry of Corporate Affairs (MCA) has planned to introduce artificial intelligence (AI) system in the MCA 21 portal in order to make the compliance process easier as well as to ensure routine enforcement activities are done regularly on autopilot basis.

In its monthly newsletter for the month of April 2019, the secretary of the MCA, Injeti Srinivas stated “MCA will look to AI in MCA-21 when version 3 of the portal is rolled out.”

It will look to rationalize all the forms and follow the principle of a single source of truth so that one is not required to fill in the known details again, as it will get filled automatically and also interlink databases so that routine enforcement is done 24x7 on autopilot basis, he added.

MCA 21 allows electronic filings of various documents under the Companies Act, 2013 and has fully automated all processes related to enforcement and compliance monitoring under the Act.

MCA-21 portal is the electronic backbone for dissemination of information to all the concerned stakeholders, including the regulator, corporates and investors. It allows electronic filings of various documents under the Companies Act 2013 and has fully automated process related to enforcement and compliance monitoring.