On an average 265 new cos got registered every day in Jan

Feb 9,2014

An average of 265 companies got registered every day in January, taking the total their number for the whole month to 8,200 and most of them are from the private sector.

The number is higher than that in December and November of 2013.

The latest data from the Corporate Affairs Ministry show that 8,206 new companies got registered in the country in January. Besides, about 22 foreign firms were incorporated. In addition, nearly 800 new Limited Liability Partnership (LLP) entities came up last month.

All the entities were registered under the Companies Act, which is administered by the Ministry. The new entities have been set up across states, with Maharashtra and Delhi each seeing incorporation of at least over 1,000 companies.
 In December last, nearly 8,000 new domestic companies were registered, which was higher than about 7,400 new entities incorporated in November.

Overall, there are more than 9 lakh active companies in the country while the count of registered ones is nearly 14 lakh.

While around 28,400 companies are in the process of being shut down, over 1.4 lakh entities have not submitted their annual statutory filings to the government for more than three consecutive years.

The Ministry is in the process of implementing the new companies law, that would replace the nearly six-decade old Companies Act.

The new legislation has various measures including those aimed at providing better environment for corporates as well as to protect the interest of investors.