The Hindu Business Line : Rise in number of cos registered in Sept

SEPTEMBER 2004 saw a rise in number of companies registered in India under the Companies Act, 1956. During the month 3,514 companies were registered as against 2,563 registered during the corresponding month of the previous year and 3,185 companies during the previous month.

Of the 3,514 companies registered during the month, 3,503 companies were limited by shares, which included one government public limited company — Industrial Development Bank of India Ltd.

Besides 3,503 companies limited by shares, eleven guarantee companies were also registered during the month. The total authorised capital of the companies limited by shares put together amounted to Rs 2,116.1 crore. Further, such companies consist of 135 public limited companies with an authorised capital of Rs 1,623.5 crore and 3,368 private limited companies with an authorised capital of Rs 492.6 crore.

The highest number of companies, limited by shares, registered during the month was reported from the Union Territory of Delhi (853) followed by Maharashtra (678). West Bengal (386), Tamil Nadu (331), Andhra Pradesh (259), Karnataka (171), and Gujarat (156) also reported comparatively larger number of companies registered during the month. These seven States together accounted for nearly 81 per cent of the total number of companies registered during the month.

The analysis of new registration by broad Industrial Classification during the month brings out that the highest number of companies was registered under the industrial classification manufacturing (1,148) followed by financing, insurance, real estate and business services (859).

Of the non-Government companies, 334 each with authorised capital of Rs 50 lakh or above were registered during the period under review as against 196 in September 2003.

Further, 22 companies limited by shares have reportedly ceased functioning during the month either by going into liquidation or their names having been struck off under section 560 of the Companies Act. The total number of companies at work as on September 30 was 6,62,580.