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Friday, Dec 17, 2004

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Company registrations rise in October

Our Bureau

New Delhi , Dec. 16

THE number of companies registered in India under the Companies Act saw a rise during October 2004 over the same period last year.

During the month, 2,672 companies were registered compared to 2,409 during the corresponding previous period.

However, the number saw a decline when compared with 3,528 registrations in September 2004.

Of the 2,672 companies registered, 2,663 were limited by shares, according to latest figures available with the Ministry of Company Affairs.

These include three PSUs - Chhatisgarh Rajya Beej Evam Krishi Vikas Nigam Ltd, Pabbar Valley Power Corporation Ltd, and Road Infrastructure Development Company of Rajasthan Ltd.

Nine guarantee companies were also registered.

The total authorised capital of the companies limited by shares put together amounted to Rs 788.7 crore.

These companies comprise 82 public limited companies with a total authorised capital of Rs 394.3 crore and 2,581 private limited companies with authorised capital of Rs 394.4 crore.

The highest number of registrations was reported from the Union Territory of Delhi (670), followed by Maharashtra (497).

The highest number of registrations came under `Manufacturing' (738), followed by `Financing, Insurance, Real Estate and Business Services' (675) and `Wholesale and Retail Trade, Restaurants & Hotels' (601).

Some 241 non-Government companies with authorised capital of Rs 50 lakh or above were registered in October 2004 against 335 in September 2004 and 215 in October 2003.

Further, 34 companies limited by shares have reportedly ceased functioning in October 2004 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 October 31, 2004 was 6,65,221.

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Company registrations rise in October

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