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Corporate India should brace for a new vigilant disclosure set-up with the government working on a fresh e-governance programme that would not only call for more disclosures in electronic form but also more effective, monitoring to ensure early warning on business frauds.

The initiative, taken as part of the next generation upgrade to the MCA21 e-governance program, is being worked upon as the government looks at ways to use data collected from regular corporate filings more meaningfully and effectively. ‘‘The idea is to use technology to have an early detection of likely corporate frauds,’’ official sources in the corporate affairs ministry told TOI.

As part of this effort, government is working on a major upgradation of MCA21 programme that was started in 2006 and enabled electronic filings, storage, retrieval, processing, and transmission of transactions, including incorporation of a company, filing of annual & statutory returns.

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Autor(en)/Author(s): Pankaj Doval

Quelle/Source: The Times of India, 17.07.2009

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