<h1>India's Ministry of Corporate Affairs Launches Exit Schemes for Dormant Companies to Streamline Deregistration Process.</h1> The Ministry of Corporate Affairs of India has identified inactive companies that have been dormant for at least ten years. To address this, the Ministry introduced the Easy Exit Scheme in 2010 and 2011, allowing non-operational companies to deregister. Additionally, from July 2011, the Fast Track Exit Mode was implemented for defunct companies that have not commenced business or have been inactive for a year. Companies failing to file Annual Returns and Balance Sheets for three consecutive years are classified as dormant. As of July 31, 2011, there are 155,939 dormant companies across various Indian states.