Registrar of Companies removed names of 2,26,166 defunct companies in 2017

Registrar of Companies removed names of 2,26,166 defunct companies in 2017

The Government has initiated campaign against black money, wilful defaulters and erring directors. There are a number of registered companies that are facing action from authorities after the demonetisation.


Prior to demonetisation, 16,08,637 number of companies stood registered. After demonetisation, the Registrars of Companies (RoCs) has identified 2.97 lakh companies during 2017-18 which were not filing their Financial Statements or Annual Returns for a continuous period of two or more financial years and, prima facie, were not conducting any business or in operation. Out of such identified companies, ROCs has removed the names of 2,26,166 companies as on 19.12.2017 from the register of companies by following the due procedure under Section 248 of the Companies Act, 2013.  Further, based on information received from various banks, the Central Government has ordered investigations into the true ownership of 68 such companies u/s 216 read with Section 210(1)(c) of the Companies Act, 2013, which have deposited Rs. 25 crores or more in Bank Accounts and withdrew in an exceptional manner post demonetisation. The investigations are underway.

As of now, the Government has identified 3,09,619 directors as disqualified u/s 164(2)(a) of the Companies Act, 2013 pertaining to companies for which Financial Statements or Annual Returns have not been filed for a continuous period of three Financial Years.

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In FY 2016-17, 29,403 companies registered as LLP on all India basis

The Limited Liability Partnership Rules, 2009 have been in force since 01.04.2009. The Limited Liability Partnership Rules provide for effectuating/implementing the provisions of Limited Liability Partnership Act, 2008. The Rules, inter-alia include procedures on incorporation of an LLP, its governance framework, relations interse partners, role, functions and liabilities of designated partners, penalties for false statements, investigation of affairs of LLP,  regulations for internal working/maintenance of books of accounts/audit thereof as well as for filing forms with Registrar of Companies for notifying the financial position and solvency of Limited Liability Partnership (LLP) and for conversion from firms/companies to LLPs.

The State/UT-wise number of companies converted into LLPs and the LLPs registered during last three years is given below:

State/UT-wise number of companies converted into LLP and LLPs  registered during last three years
S.No	State/UT	2016-17
		Converted to LLP	Registered as LLP	Total
1	Andaman & Nicobar	0	1	1
2	Andhra Pradesh	2	295	297
3	Arunachal Pradesh	0	3	3
4	Assam	1	125	126
5	Bihar	3	251	254
6	Chandigarh	2	139	141
7	Chattisgarh	0	91	91
8	Daman and Diu	0	5	5
9	Delhi	53	4074	4127
10	Dadra & Nagar Haveli	1	6	7
11	Goa	3	113	116
12	Gujarat	29	2414	2443
13	Himachal Pradesh	4	48	52
14	Haryana	11	874	885
15	Jharkhand	6	149	155
16	Jammu & Kashmir	0	17	17
17	Karnataka	16	2177	2193
18	Kerala	4	761	765
19	Maharashtra	92	9769	9861
20	Meghalaya	0	6	6
21	Manipur	0	8	8
22	Madhya Pradesh	3	522	525
23	Mizoram	0	0	0
24	Nagaland	0	1	1
25	Orissa	1	111	112
26	Punjab	5	287	292
27	Pondicherry	0	15	15
28	Rajasthan	9	997	1006
29	Sikkim	0	4	4
30	Telangana	21	1172	1193
31	Tamil Nadu	13	1103	1116
32	Tripura	0	3	3
33	Uttar Pradesh	21	1411	1432
34	Uttarakhand	4	135	139
35	West Bengal	16	2316	2332
Grand Total		320	29403	29723

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The Competition Commission of India (CCI) invites comments/suggestions/objections from any person(s) adversely affected or likely to be affected by the proposed combination between Bayer Aktiengesellschaft and Monsanto Company. On 7th August, 2017, the Competition Commission of India (CCI) received a notice filed by Bayer Aktiengesellschaft (Bayer) in relation to acquisition of the entire shareholding of Monsanto Company (Monsanto) by Bayer. Bayer, the Acquirer, is a German Stock Corporation, and is a life sciences company with competencies in the areas of health care and agriculture. The activities of Bayer are carried-out in three main Divisions viz. pharmaceuticals, consumer health, and crop sciences. Monsanto is a global provider of agricultural products for farmers, viz. seeds, biotechnology traits and herbicides. The Commission is of the prima facie opinion that the proposed combination is likely to have an appreciable adverse effect on competition and, accordingly, has directed Bayer, in terms of Section 29(2) of the Competition Act, 2002, to publish details of the combination for bringing the combination to the knowledge or information of the public and persons affected or likely to be affected by such combination. Bayer has already published the details of the proposed combination in all India Editions of four newspapers viz., The Business Line, The Financial Express, Indian Express and The Statesman on 05th January, 2018 and the same is also hosted on the respective websites of the parties. The said details are also available on the website of the Commission (www.cci.gov.in). As per the provisions of Section 29(3) of the Act, the Commission invites comments/objections/ suggestions in writing, from any person(s) adversely affected or likely to be affected by the proposed combination. The same may be addressed to the Secretary, Competition Commission of India, Hindustan Times House, 7th Floor, 18-20, Kasturba Gandhi Marg, New Delhi – 110001 or through email: secy@cci.gov.in, within fifteen working days from the date of publication of details of the proposed combination. The Commission is not likely to consider unsubstantiated objections.