More than 15,900 companies were incorporated and registered in April: Ministry data

According to official data, 15,905 companies were registered in the country in April and a total of 14,51,401 companies were active at the end of last month.

The latest data from the Ministry of Corporate Affairs shows that as on April 30, 2022, a total of 23,33,958 companies were registered under the Companies Act.

Of these, 8,29,289 companies are closed and 8,021 are under liquidation. In addition, 43,851 companies were in the process of being dropped from official records and 2,416 were found to be ‘dormant’.

At the end of April, there were 14,51,401 active companies, including 2,53,131 companies in the previous 18 months, according to the ministry’s latest monthly newsletter. The Ministry of Corporate Affairs is implementing the Companies Act.

In his message to the newsletter, Corporate Affairs Secretary Rajesh Verma discussed various aspects of the Insolvency and Bankruptcy Code (IBC). He noted that there is currently no standard framework for tracking bankruptcy and bankruptcy outcomes in various jurisdictions other than the World Bank Doing Business Report, which has recently been discontinued.

“Therefore, it is important to study the impact of the bankruptcy structure created by IBC and conduct a SWOT analysis, ie to investigate its strengths, weaknesses, opportunities and threats on a regular basis,” he said.

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