Write a note on e-filing of documents.

E -filing is a key feature of the MCA -21 project of Ministry of Corporate affairs. The major benefits of e-filing are the ease of interaction with all citizens and almost a paperless environment. The notified new e -forms may be filed through electronic media or through any other computer readable media under the Companies Act.

Highlights of the System

1. The filing of forms (e -forms) with ROC can be done from one’s home or office through the Internet. There is no need to visit the ROC’s office for filing various documents.
2. The payment of filing fees can also be made over the Internet through credit card/Internet banking without queuing up at the banks.
3. The filing will be valid only when filing fee is paid.
4. Pre -scrutiny of filled -up forms is done in the portals before final submission.
5. Many of these e -forms require certification by CA/CWA/CS (in whole time practice). Certification must be done by signing digitally.
6. DIN (Directors Identification Number) is compulsory for all directors.
7. Every signatory of e -form must obtain DSC (Digital Signature Certificate).

The Process of e -filing

1. Download a blank e -form from the MCA -21 portal.
2. Fill up the e -form off line using software that is free and widely available.
3. Optionally carry out electronic pre -scrutiny in which the system will verify whether the form has been completed in all respects.
4. The form to be digitally signed by one or more signatories.
5. Submit the e -form for processing to the MCA -21 portal.
6. Make necessary payments to complete the transaction either at an authorized bank branch or through Internet banking.

Advantages of e -filing

1. Advantages to Corporate and Professionals,
2. Documents can be filed without visiting the ROC office.
3. There is no need to stand in long queues for filing documents or paying filing fees.
4. Filing will be open on a 24 x 7 basis. This affords one the flexibility to do this work at one’s convenience.
5. Pre -scrutiny of forms filed will be done in the portals itself at the point of filing. So, once the form is filed, a need to interact with ROC personnel to rectify deficiencies in filings will be minimized to a great extent.
6. Filing fees can be paid from the comforts of one’s office/home using credit card/Internet banking.

Advantages to the Public : To the public, the portal offers inspection of documents filed by companies on a 24 x 7 basis from the comforts of one’s home/office.

Advantages to the Government:

1. Better utilization of existing staff and space resources.
2. The DIN (which is compulsory for all existing and prospective directors to obtain) will help enforce accountability of directors.
3. Time and energy spent in accepting documents, filing them, corresponding with companies will be drastically reduced and channelized towards taking action against errant corporates.