9911796707
TMI Blog4,32,796 companies struck off down during last five yearsX X X X Extracts X X X X X X X X Extracts X X X X ..... 4,32,796 companies struck off down during last five years X X X X Extracts X X X X X X X X Extracts X X X X ..... obtaining the status of a Dormant Company under section 455 of the Act. This was stated by the Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Lok Sabha. The removal of the name of the company from the Register of Companies is a continuous process and a total of 4,32,796 companies have been struck off during last five years and its year wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se details are as under: Year 2017-18 2018-19 2019-20 2020-21 2021-22 Number of Struck off Companies 2,26,166 1,12,797 43,912 Nil 49,921 The Minister stated that there is no rule making power provided under section 59 'Voluntary liquidation for corporate persons' in the Insolvency and Bankruptcy Code, 2016. A dormant company is covered under the provisions of section 455 of the Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Minister stated.
The number of Companies having dormant status as per such provisions, during the last five years are as under:
Year
2017-18
2018-19
2019-20
2020-21
2021-22
Number of dormant
Companies
451
362
570
81
116
As per information provided by the Department for Promotion of Industry and Internal Trade, no such measure has been taken to address industrial sickness. X X X X Extracts X X X X X X X X Extracts X X X X ..... ws - Press release - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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