IT services company Infosys Ltd, which is managing the Corporate Affairs Ministry’s e-governance portal MCA21, is investing around Rs 100 crore to upgrade the system in view of an expected rise in workload.
The company expects a multi-fold increase in the number of filings by companies with the ministry due to various provisions of the new Companies Act, Infosys Vice-President and Head of India Business C.N. Raghupathi said.
Provisions like new corporate social responsibility norms and floating single-person companies would increase the workload on the system, he said.
“To meet this additional load, Infosys is investing over Rs 100 crore in a year to upgrade the system,” Raghupathi said. Through the MCA21 portal, corporate sector stakeholders and investors alike gain secure access to an array of services provided by the Ministry.
The portal also facilitates the mandatory filing of various documents by companies with the Ministry.
Infosys, which won the MCA21 mandate in November 2012, has revamped and transformed the project significantly, updating the infrastructure to provide for the rapidly changing needs of the industry, the company said.
He said the Ministry witnessed 23.3 lakh filings this year so far, up from last year’s 17.4 lakh.