The government revealed that over 10,000 companies in the country closed voluntarily from April last year to February this year. The Coronavirus pandemic and the subsequent lockdown is said to have caused severe disruption to economic activity with these companies.
The latest data available with the Ministry of Corporate Affairs shows that a total of 10,113 companies were struck off under Section 248(2) of the Companies Act, 2013, in the current financial year till February.
Section 8 248 (2) provides that companies voluntarily terminate their businesses without any legal action. The highest number of 2,394 companies were closed in Delhi, followed by Uttar Pradesh (1,936 companies). 1,322 in Tamil Nadu, 1,279 in Maharashtra, 836 in Karnataka, 501 in Chandigarh, 479 in Rajasthan, 404 in Telangana, 307 in Kerala, 137 in Jharkhand, 111 in Madhya Pradesh and 104 in Bihar were voluntarily shut down.
Anurag Thakur, Union Minister of State for Finance, revealed the details about the registered companies that have stopped doing business in 2020-21.
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