780 listed companies face prosecution for non-filing of annual returns
24 Mar 2018
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The ministry of corporate affairs has filed prosecution charges against 780 listed companies under various sections of Companies Act, 2013, for not filing their financial statements and annual returns.
Union minister of state for law & justice and corporate affairs P P Chaudhary told the Lok Sabha on friday that as on on 31st December 2015, there were 15.19 lakh registered companies in India.
Of these, 10.7 lakh companies were active, among them being 7,269 were listed companies.
There were only 7,270 active listed companies out of 17.21 lakh registered companies as on December 2017 whereas in December 2014 there were 7,261 active listed companies out of 14.39 lakh registered companies in India.
Section 248(1)(c) of the Companies Act, 2013, provides for removal of the names of companies from the register of companies has not carried out any business operation for a two immediately preceding financial years and has not made any application within such period for obtaining the status of dormant company u/s 455.
Based on this, 2.97 lakh companies were identified under this category as on 31 March 2017.
Names of 2,26,166 companies were struck off from the register of companies as on 31 December 2017.
