Lok Sabha Question No. 1336 (UNSTARRED), answered on 2025-12-08
Subject: Corporate Governance in Budaun
Ministry: CORPORATE AFFAIRS
Asked by: Shri Aditya Yadav

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA UNSTARRED QUESTION NO. 1336 ANSWERED ON MONDAY, DECEMBER 08, 2025 AGRAHAYANA 17, 1947 (SAKA)

## CORPORATE GOVERNANCE IN BUDAUN QUESTION

1336. Shri Aditya Yadav:

Will the Minister of CORPORATE AFFAIRS

be pleased to state:

- (a) whether the Government has taken note of the complexities faced by companies and business enterprises in Budaun district in the State of Uttar Pradesh in complying with the recent amendments to the Companies  (Accounts)  Rules,  2025,  which  are  affecting  corporate governance and financial reporting in the country;
- (b)  if  so,  the  details  of  initiatives  implemented/  proposed  by  the Government to simplify compliance procedures, enhance transparency through digital documentation and capacity development for corporate entities in the district; and
- (c) if not, the reasons therefor?

## ANSWER

THE MINISTER OF STATE IN THE MINISTRY OF CORPORATE AFAIRS AND MINISTER OF STATE IN THE MINISTRY OF ROAD, TRANSPORT

AND HIGHWAYS

[SHRI HARSH MALHOTRA]

- (a)  to  (c):  The  Companies  (Accounts)  Rules,  2014  was  amended twice  during  the  year  2025  to  streamline  compliance  and improve transparency in the annual financial statement related filings of all companies, including the companies in the district of  Budaun  in  the  State  of  Uttar  Pradesh.  The  details  of  the
- initiatives taken in this regard are as follows:
1. The  Companies  (Accounts)  Amendment  Rules  2025  were notified  on  19th  May,  2025,  to  allow  companies  to  file  Form
- CSR-2  (Reporting  on  activities  related  to  Corporate  Social Responsibility) as a separate Form for the FY 2023-24, till 30 th June, 2025. Further, on account of migration of Forms to the new V3 portal (Version  3  of  MCA21  portal),  companies  were given additional time to file Form CSR-2 as a separate Form till 15th  August,  2025  vide  General  Circular  No.  02/2025  dated 16.06.2025.
2. The  Companies  (Accounts)  Second  Amendment  Rules,  2025 were notified  on 30 th   May,  2025  and  were  effective  from  14 th July, 2025. It introduced new  Forms  for filing financial statements/consolidated financial statements of the companies in  the  V3  portal  (Version  3  of  MCA21  portal).  With  a  view  to reduce duplications and redundancies, to capture data in the machine-readable  format,  and  to  reduce  number  of  filing requirements, such Forms, hitherto being filed separately or as attachments,  along  with  some  new  Forms,  have  now  been linked with the Financial Statement (AOC-4).

There  are  significant  enhancements  in  the  Forms  whereby Interim Resolution Professional/ Resolution Professional /Liquidator are allowed  to file these  Forms  in  case  the companies are under the resolution process or under liquidation. The figures from the previous reporting period are pre-filled.

3. At the time of the roll-out of these new Forms, considering that the  MCA  portal  was  temporarily  unavailable  for  filing  from 18.06.2025  and  13.07.2025  (both  dates  inclusive),  companies were allowed to complete their filings without levy of additional fees up to 15 th   August,  2025  in  cases  where  the  due  date  or resubmission date fell between 18.06.2025 and 31.07.2025 vide General Circular No. 01/2025 dated 16 th  June, 2025.
4. Further, considering that companies may require some time to get familiarised with the filing process, vide General Circular No.  06/2025  dated  17 th   October,  2025,  companies  have  been allowed to complete their annual filings pertaining to FY 202425 till 31 st  December, 2025 without payment of additional fees.
5. In addition to the above, following steps were taken so that the stakeholders  get  familiarised  with  the  filling  requirements, while  at  the  same  time,  providing  them  a  mechanism  for resolving their grievances :-
- i. Webinars and training are conducted regularly for handholding stakeholders. Video tutorials, Chatbot, user manuals and FAQs are available on portal to assist users in filing of returns.
- ii. The  portal  provides  a  dashboard  facility  that  enables stakeholders to track filings, payment status, and approvals in real time, thereby enhancing transparency.
- iii. A helpdesk mechanism has been established to address grievances  related to the MCA21  portal.  To  further improve  grievance  redressal,  MCA  has  partnered  with professional institutes to review ticket closures. A dedicated team from these institutes works closely with MCA  to  monitor  grievance  handling  and  collect  user feedback after ticket closure.

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