MCA establishes Centre for Processing Accelerated Corporate Exit to facilitate voluntary winding up process of companies , effective from 1st April, 2023

The Ministry of Corporate Affairs ( “MCA”) has established the Centre for Processing Accelerated Corporate Exit (“C-PACE”) which will come into effect from 1st April 2023. The C-PACE is located at the Indian Institute of Corporate Affairs (IICA), Plot No. 6, 7, 8, Sector 5, IMT Manesar, District Gurgaon (Haryana), Pin Code – 122050.

C-PACE with process re-engineering has been established to facilitate and speed up the voluntary winding-up of companies from the currently required 2 years to less than 6 months.

Source : Ministry of Corporate Affairs