MCA sets up C-PACE to speed up closure of companies

In March 2023, the Ministry of Corporate Affairs (MCA) established the Center for Processing Accelerated Corporate Exit (C-PACE) at the Indian Institute of Corporate Affairs, Gurgaon, Haryana. The objective of establishing C-PACE is to facilitate and speed up the removal of the names of companies from the Register of Companies, also known as Fast Track Exit, thereby providing ease to companies that are closing their business.

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