One-third of over 13 lakh registered Companies in India inactive: The country might have more than 13 lakh registered companies but over one-third of them are either inactive or closed. With increasing business activities, the count of new companies is on the rise with as many as 1.5 lakh firms getting registered in one-and-a-half years. However, many of the registered companies have either been shut down, dormant or in the process of getting liquidated. Official data show that there were about 13.29 lakh companies registered at the end of June this year. Out of them, there are only around "8.84 lakh active companies", indicating that one-third of the total entities are inactive. According to the Ministry, there were about 30,386 companies in the process of being liquidated. Besides, 1.44 lakh firms have been classified as dormant, since they have not filed their annual returns/balance sheets for more than three consecutive years
Posted on: Mon, 05 Aug 2013 03:03:43 +0000
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