Massive Removal of Companies from Official Records

In a significant move, the names of more than 3,300 companies are set to be deleted from official records. This action follows applications received by the corporate affairs ministry from these companies seeking removal.

State-wise Distribution of Companies

Maharashtra leads with over 700 companies applying for name removal, followed by Delhi with nearly 500, and Karnataka with over 350. Gujarat, Uttar Pradesh, and West Bengal each have over 200 companies in the queue for deletion.

Legal Grounds for Removal

Under Section 248(2) of the Companies Act, companies can apply for name removal if they haven't commenced business within a year of incorporation or haven't been operational for two consecutive financial years.

Current Corporate Landscape in India

As of March, India boasts 18,50,932 active companies out of 28,52,449 registered ones. Maharashtra, Delhi, and West Bengal are the top states with the highest numbers of active companies.