C-PACE REVOLUTIONISES VOLUNTARY CLOSURE OF COMPANIES AND LLPS

India, Aug. 11 -- The Government of India issued the following news release:

The Ministry of Corporate Affairs has established the Centre for Processing Accelerated Corporate Exit (C-PACE) vide MCA Notification No. S.O 1269(E) dated 17th March 2023 to facilitate and speed up the voluntary Strike off of companies having PAN-INDIA jurisdiction and operationalized from 01.05.2023.

As on 31.07.2025, under C-PACE, applications filed for voluntary closure of companies are getting processed within an average time of less than 2 months compared to an average time of more than 2 years earlier when the voluntary strike off applications were being processed by various jurisdictional RoCs.

C-PACE is enabling the stakeholders by providing a hassle-fr...