Friday, March 14, 2008
100,000 Indian companies lose registration for failing to file annual returns
by Jo BlackIndian federal government has cancelled the registration of over 100,000 companies for failing to file annual returns, Indian Parliament was informed on Friday.
There were about 7,43,628 companies registered under the Companies Act till March 2007. However, only 3,22,943 companies filed their annual returns till February this year, Minister of Corporate Affairs Prem Chand Gupta told lower house of the Parliamnent in a written reply.
Same trend was witnessed in 2006 when out of 7,32,169 registered companies only over 294, 000 filed their annual returns for 2006-07.
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