Centre For Processing Accelerated Corporate Exit (C-PACE):
The Ministry of Corporate Affairs (MCA) has established the Centre for Processing Accelerated Corporate Exit (C-PACE) to centralize the process of striking off companies from the MCA Register.
- Striking off companies from the Ministry of Corporate Affairs (MCA) Register means removing defunct, non-operational, or dissolved companies from the official database.
- C-PACE founded in March 2023; HQ: at the office of Indian Institute of Corporate Affairs (IICA) in Gurgaon) aims to ensure a clean registry, provides hassle-free filing and timely, process-bound striking off of company names from the Register.
- C-PACE operates through the Registrar of Companies (RoC) and is part of MCA’s efforts to improve the Ease of Doing Business and facilitate company exits.