Registrars of Companies removes 3.39 lakh companies in last 2 fiscals

NEW DELHI: Registrars of Companies (RoCs) struck off 338,963 companies from official records in the last two financial years for failure to submit annual returns, minister of state for corporate affairs Anurag Singh Thakur told the Lok Sabha on Monday.

The minister said that the ministry through its RoCs files prosecutions against companies that have not filed financial statements from time to time.

“During 2017-18 and 2018-19, RoCs had removed/struck off 3,38,963 companies… for failing to file financial statements or annual returns for a continuous period of two or more financial years,” the minister said in a written reply.

RoCs can remove such companies from official records if they do not apply for ‘dormant status’ under the Companies Act of 2013.

[“source=economictimes”]