MCA files prosecution against 780 listed companies : Minister

Speed Post News Network

New Delhi : The Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013, due to non-filing of Financial Statements and Annual Returns by them.

As on December 31, 2015, there were 15.19 lakh registered companies in India. Of these, 10.7 lakh companies were active in which 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.

This was stated by Union Minister of State for Law & Justice and Corporate Affairs P P Chaudhary in Lok Sabha on March 23, 2018, according to a PIB release.

Section 248(1)(c) of the Companies Act, 2013, provides for removal of name of company from the register of companies if it is not carrying on any business or operation for a period of 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 the above mentioned provision, 2.97 lakh companies were identified under this category as on March 31, 2017, and after following due process names of 2,26,166 companies were struck off from the register of companies as on December 31, 2017.