Indore: During the lockdown even as the economy worldwide was being dented, silently the Indian corporate scenario was consolidating.
A commendable total of 5,788 companies were registered with collective authorized capital of Rs 804.61 crore in March and a total 3,209 companies were registered in April with authorized capital of Rs 1,429.75 crore.
Again 2,356 LLPs were registered in March, attributing the credit to the unstinted honest efforts of the Company Secretary Professionals, in preparation of filings and compliances under the Company law within the extended time period provided by the MCA. CS Ashish Garg, National President of Institute of Company Secretaries of India, informed that taking cognizance of the situation, the UnionMinistry of Corporate Affairs (MCA), has been operational all through the pandemic Covid-19 lockdown and has taken various measures to ease the hardships faced by Corporates in their operations and nation building.
He informed, that in this technology driven era, the digitally groomed Company Secretary Professionals made honest efforts and provided every assistance in incorporation of these companies. CS Garg said the specific objective of providing greater ‘Ease of doing business’ to all the stakeholders has resulted in faster processing of incorporation related applications, uniformity in application of rules anderadicating discretion.
When the entire world was under lockdown, professionals and officials working tirelessly to process applications for name availability and form SPICe related to incorporation of companies and form AGILE related to Application for Goods and services tax Identification number,employees state Insurance corporation registration plus Employees provident fund organisation registration & Form FiLLiP related to incorporation of Limited Liability Partnerships within 1-2 days.
Highlighting the contribution of ICSI, CS Garg said "the ICSI, as an extended arm of the regulatory authorities, has also shown it's irrefutable support by organising webinars, crash courses, online workshops andOnline Classroom Teaching throughout the lockdown period of March, April and May, to deliberate on such measures, clarifying matters with the help of MCA Officers and Company Secretaries”, ICSI President said.Acknowledging the efforts of the Company Secretary Professionals, CS Garg, President ICSI, said ICSI would be honoured to felicitate these Corona Warriors of the profession.
While the priority throughout has been of battling the pandemic through coordinated and concerted efforts, ICSI is committed towards serving its stakeholders and supporting the Government of India in allits endeavours of building a stronger and self-reliant India, he further added.