According to the latest official statistics, 13,311 firms were registered under the Companies Act in December 2021, bringing the total number of active companies in the nation to 14,44,572.
There were 811 one-person businesses among the total number of firms registered across all categories (OPCs). According to MCA data, Maharashtra led the list of new company registrations in December, followed by Uttar Pradesh and Delhi.
‘Business Services’ placed first in the economic activity-wise classification of new registrations, with 3,508 firms registered in this category. Out of the total new registrations in December, 13,224 were limited by shares and had a combined authorized capital of Rs 3,162.43 crores. According to Vivek Jalan of Tax Connect Advisory Services LLP.
“A total of 13,311 companies, including 811 one-person companies (OPCs) were registered under the Companies Act, 2013 during December 2021 with an authorized capital of Rs 3,164.19 crore,” Ministry of Corporate Affairs (MCA)’s monthly bulletin said.
“Many companies which were earlier directly exporting to India are now opening up their offices in the country and setting up local units due to new procurement rule. Since the new rule requires PSUs and government departments to take supplies from only those companies which have not less than 20% local content in their goods and services many foreign firms are opening up their offices in India,” he added.
The increased number of new registrations, according to Vivek Jalan of Tax Connect Advisory Services LLP, implies increased economic activity on the ground.
According to data from the Ministry of Corporate Affairs, India has 22,76,448 businesses registered under the Companies Act as of December 31, 2021. 7,87,953 businesses were shuttered, while 7,014 businesses were in the process of being liquidated.
According to official statistics, 34,554 businesses are in the process of being struck off the register, and 2,355 businesses have been designated as “dormant” under Section 455 of the Companies Act.
“There were 14,44,572 active companies, including 2,61,642 companies which were incorporated within the preceding 18 months (not due for Annual Statutory Filings),” said the MCA monthly bulletin.
