Glitches on MCA portal while filing of Corporate Forms as Deadline approaches

Chartered accountants (CAs) and CS said that these glitches have been going on for one year, which was when the transition to the new version of the corporate affairs ministry’s website began. “We are facing a very difficult situation with the changes in MCA21,” a company secretary (CS) based in Kolkata said even as the deadline to complete filing of several corporate forms approaches.

Other than annual returns, all forms have been impacted. Forms like DPT3, where the business is required to declare loans and outstanding balances, are among these. It was first made available a few years ago. Other forms pertain to the distribution of share capital and the specifics of any bank loans that may have been obtained.

Jigar Shah, a lawyer in JMJA & Associates LLP, claimed that because the adjustments are relevant to all companies, more people are already experiencing the agony. When it started last year, the corporate affairs ministry used limited liability partnership firms (LLPs) to start the transformation.

The main issue is that we are unable to submit forms; we are given advice such as “go incognito” and “change password” if we want to file our documents. To make matters worse, in the event of failures, startups and businesses are required to pay additional fees, and use of our funds is restricted until forms are filed, according to Shah.

If they are unable to fill out the form, several pros have been exchanging tips such as cleaning the cache and signing out and signing in again.

These glitches have resulted in a Twitter trend with the hashtag #V3errors. Company secretaries are voicing their concerns on the microblogging platform. One CA stated that he had filed a complaint on March 16 and that his concerns had not been investigated even on March 24.

The website has been managed during the changeover by the IT company LTIMindtree. This is not the first time a government portal is making the news for glitches.

For flawless filing, LTIMindtree stated in a statement that users must fully adjust to the changes on the platform. The portal is functioning well, it continued.

To ensure traceability, only users who have registered on the system after completing KYC are now permitted to sign forms digitally, according to the business.

Source: Times of India