Nearly 1,800 new companies set up in May

Tags: News
India saw setting up of nearly 1,800 new companies in May, with majority of them getting established in Uttar Pradesh.

The figure is way lower than 10,546 new companies that got registered in May 2013 -- one of the highest levels seen in more than a year.

Latest data from the Corporate Affairs Ministry show that 1,789 new companies, having a total authorised capital of Rs 3,342.34 crore, were registered in the country in May 2014.

"Of them 1,785 were registered as Companies Limited by Shares with authorised capital of Rs 3,342.32 crore; four companies were registered as Limited by Guarantees with Rs 2 lakh authorised capital," as per a Ministry document.

Among new entities, 250 were registered in Uttar Pradesh, followed by Andhra Pradesh (237) and West Bengal (220).

Meanwhile, there were more than 13.97 lakh registered companies at the end of May and among them only 9.7 lakh entities were active.

"Of them, 2,55,867 companies were closed; 1,42,256 companies were lying dormant; 5,102 companies were under liquidation; 23,356 companies were in the process of being struck-off and 204 companies were in the process of being re-activated," according to the Ministry.

With 2.83 lakh registered companies, Maharashtra emerged on top, followed by Delhi (2.61 lakh) and West Bengal (1.81 lakh). In terms of active entities, Maharashtra had the maximum number at 2.06 lakh.

Going by the Ministry, the highest number of active companies were in the business services segment and their count stood at 2.30 lakh in May. Business services comprise IT, Research & Development, among other activities.

Manufacturing sector has 2.09 lakh active firms, trading 1.46 lakh active companies and construction 1.03 lakh active entities.

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