The government on Saturday said it has set up the Centre for Processing Accelerated Corporate Exit (C-PACE) to ensure timely and process-bound deregistering of companies from records and provide more meaningful data to the stakeholders.
The centre has been set up by the corporate affairs ministry.
“The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides availability of more meaningful data to the stakeholders. The C-PACE will also benefit the stakeholders by providing hassle-free filing, timely and process-bound striking off their company’s names from the register,” the ministry said in a release.
According to the ministry, the centre has been established as part of several measures taken to further improve the ease of doing business and ease of exit for companies.
The centre is situated at the Indian Institute of Corporate Affairs (IICA) in Manesar, Haryana.
