Upgradation work in industries website hits companies

-Registrations and other works hampered

Aurangabad: The website of the ministry of commerce and industry, which was created to facilitate the working process of the entrepreneurs, is becoming troublesome for entrepreneurs. As the upgradation work is going on in this website, the registration work done by the companies is going on slowly. This is causing significant inconvenience to the entrepreneurs.

Everyday thousands of new industries are registered in the country through the website. The work of upgrading the website is going on from January 23. Hence works like registration of the company, increase in share capital, change in the name of company directors and other works are completed through the website. Basically, after uploading some documents on the website, it takes 10 to 15 days for their filing. Forms of share capital, recognition, filing of LLP form are also getting affected. Only after getting permission on this application, the concerned companies can use their increased share capital in business. Even though there are funds in the accounts of the companies, this capital cannot be used as it is not registered with the government.

Difficulty in getting loans

The glitch is affecting the companies. The companies which are in the process of taking loans from the banks, do not get the green light from the industry ministry. The glitch should be cleared to streamline the registrations and other works, said industrialist Shyamsundar Aaher.