More than 1.4 Lakh Companies Dormant in India: MCA

The Minister of state for Corporate Affairs (MCA) said that, there are 1,46,316 companies lying dormant in India as on August 23, 2012. The government has launched a system – “Fast Track Exit Mode” on July 3, 2012 to enable defunct firms to exit in a swift manner.

The State-wise list of all the dormant companies was submitted to the Lok Sabha and it is observed that Mumbai, the capital of Maharashtra, the country’s biggest financial and corporate firms, had the largest number of dormant companies of about 35,664 as on August 20, 2012.

The other states and union territories that are followed by Maharashtra are as follows:

• Delhi with 28,905 dormant companies
• Andhra Pradesh – 23,284
• Tamil Nadu – 16,273
• Gujarat – 11,269
• Karnataka – 8,221
• Uttar Pradesh – 5,316
• Kerala – 2,422
• Punjab – 2,413
• Haryana – 2,206
• Rajasthan – 1,467
• Madhya Pradesh – 1,403
• Chandigarh – 1,233
• Bihar – 1,019
• West Bengal – 967
• Nagaland – 26
• Daman and Diu – 25
• Manipur – 18
• Meghalaya – 15
• Arunachal Pradesh – 11
• Tripura – 7
• Mizoram – 6
• Lakshwadeep – 2