Government establishes C-PACE | To Fasten the Voluntarily Winding up Process
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- By Chetan Kulasri
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- Last Updated on 20 March, 2023
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MCA NOTIFICATION S.O. 1269(E) dated 17th March, 2023
The Finance Minister Nirmala Sitharaman during Budget speech 2022 announced that “Now the Centre for Processing Accelerated Corporate Exit (C-PACE) with process re-engineering, will be established to facilitate and speed up the voluntary winding-up of these companies from the currently required 2 years to less than 6 months”. The MCA has notified the establishment of the Centre for Processing Accelerated Corporate Exit (C-PACE). The C-PACE be located at the Indian Institute of Corporate Affairs (IICA), Manesar, Gurugram. It will be effective from 01st April, 2023.
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