The Ease of Doing Business in India in 2019
Coupled with the objective to boost the ease of doing business in India , the Ministry of Corporate Affairs (MCA) has taken some initiatives. In this article, we shall understand these reforms more clearly. Exemption of minimum paid-up capital The paid-up capital: the amount accumulated by the sales of the company’s shares. The MCA has exempted the requirement of minimum paid-up capital for private companies through the Companies (Amendment) Act 2015. Private companies no longer need to adhere to minimum paid-up capital. This step will increase the ease of doing business significantly. The inception of Central Registration Centre (CRC) Precisely, in an initiative of Government Process Re-engineering (GPR) to provide speedy incorporation related services and to increase the ease of doing business in line with global best practices, the MCA has established a Central Registration Centre (CRC) under Section 396 of the Companies Act 2013(Act) vide notifi...