The government has struck off 12,889 companies from the records in FY21 as part of a special drive to clean up the system of inactive ones, official data showed. Removing inactive ones from records makes administration less burdensome. Official data showed that the number of businesses struck off from records is declining after the large-scale removal in the last two years. In FY19, over 1,56,000 companies had been struck off from records, followed by over 64,000 companies in FY20, showed data from the ministry. These were inactive companies for the previous two financial years which have not applied for dormant status.

Source: Mint August 08, 2021 13:40 UTC