More than one-third of the total 17 lakh registered companies in the country were shuttered as on end of October, latest official data showed. "Out of the 5,34,674 closed companies, about 10,443 companies were liquidated/ dissolved; 4,92,735 companies were defunct (and hence struck-off); 19,984 companies were amalgamated/ merged with other companies; 6,719 companies were converted to LLP (Limited Liability Partnership) and 4,793 companies were converted to LLP and dissolved," it noted. In the report, the ministry said a total of 7,556 companies were registered this October compared to 6,542 firms in the year-ago period. The companies registered in October 2017 had a collective authorised capital of Rs 1,394.61 crore. "Of them 7,524 companies were registered as companies limited by shares with authorised capital of Rs 1,394.09 crore; 32 companies were registered as limited by guarantees with authorised capital of Rs 52 lakh," the report said.

Source: dna November 26, 2017 09:12 UTC