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Official Data Shows a Third of Registered Companies Out of Business
December 01, 2017
Out of the 17 lakh registered companies in the country, a third went out of business by October-end, official data reveals.
This is largely a result of the government’s clampdown on the shell companies and other illegal companies.
The corporate affairs ministry has struck off the names of about 2.24 lakh firms that were found to be dormant from the records. Overall, 5.35 lakh companies have been closed down. As of October 31, only 11.30 lakh firms are left that are active.
