Number of registered companies reaches 20.14 lakh at June-end

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Number of registered companies reaches 20.14 lakh at June-end

Number of registered companies reaches 20.14 lakh at June-end; over 7.4 lakh closed

The count of registered companies in the country stood at over 20 lakh at the end of June, while more than 7.4 lakh have been closed due to various reasons, according to official data. The latest data from the corporate affairs ministry also showed that there were little over 12.15 lakh active companies as on June 30. Generally, active companies are those which are regular in making requisite lings to the ministry.

The ministry is implementing the Companies Act as well as the Limited Liability Partnership (LLP) Act. In June alone, a total of 10,954 companies were registered with collective authorised capital of Rs 1,318.89 crore. In terms of economic activities, most companies were in business services at 3,399, followed by manufacturing (2,360), trading (1,499), community, personal and social services (1,411) and construction (644), as per the ministry’s latest monthly information bulletin on the corporate sector.

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The data showed that there were 20,14,969 registered companies as on June 30. “Of them, 7,46,278 companies were closed. 2,242 companies were assigned dormant status as per the Companies Act, 2013; 6,706 were under liquidation; 43,770 companies were in the process of being struck-off… there were 12,15,973 active companies as on June 30, 2020,” it said.

Among the closed ones, 10,980 companies were liquidated/ dissolved and 6,90,773 were declared defunct. Further, 25,725 companies were amalgamated/ merged with other companies. “An analysis of registration of new companies during June 2018 to June 2020 indicates that monthly registration of companies has increased after hitting lowest of 3,209 companies in April 2020.

“A total of 10,954 companies were registered in June 2020 as compared to 9,619 in June 2019. An increase (126.55 percent) in registration of companies has been witnessed in June 2020 over the previous month. A total of 2,273 LLPs were registered in June 2020 as compared to 2,979 LLPs in June 2019,” the bulletin said.

Source:Economic Times

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