More than 17,600 companies were closed, and 138 million companies registered this finance: government data

Representative image | Photo Credit: Reuters

According to the official data, 17,654 companies were closed until January 26 in the current fiscal year, and a total of 1,38,027 companies were registered at the same time.

This data was shared on Tuesday (February 4, 2025) by Rajya Sabha by the Harsh Malhotra Corporate Problem Minister. According to data, 17,654 companies have been closed in the current fiscal year until January 26.

This figure contains companies that are fused, converted to LLP, liquidated/dissolved, and are far from the official record.

The number of closed companies was 22,044 and 84,801 from 2023 to 24 and 2022 in 2022.

This data was provided in response to questions by YSRCP Rajasaba members Paris Malnaswan.

Companies are registered in the country based on the Corporate Law implemented by the Ministry of Corporate issues. The ministry also implements a limited liability partnership (LLP) law.

Until January 26 of the current fiscal year, 1,38,027 companies were registered, and the Earl was 1,85,318 from 2023 to 2010, and 1,59,302 from 2022 to 2013.

The Minister also stated that the government had some initiatives for business ease of business, including non -crime of 63 crimes under the company and LLP method.