The Minister of State for Finance & Corporate Affairs Shri Anurag Singh Thakur said that 1,38,051 new companies registered in the current Financial Year from April 2020 to February 2021 while  10,113 of Companies have been struck off by invoking the Provisions of section 248 of the Companies Act, 2013 from April 2020 to February 2021.

This the Minister stated in a written reply to a question in Lok Sabha today.

The Minister stated that the financial statements are filed with Ministry of Corporate Affairs for the statutory compliances to maintain the registry for public inspection and all documents are available at www.mca.gov.in. The financial statements are kept as filed and the financial ratios, like revenue to profit is not calculated. The number of filings may be different from year to year due to delays/ defaults in filing.

Thus such financial ratios across the whole universe of filings are not comparable, the Minister stated.

Company registration trends show high incorporations and strike offs, emphasising statutory filing and registry access requirements. A significant number of new companies were incorporated while a cohort of companies were struck off under the Companies Act, 2013. Financial statements filed by companies are retained in the public registry for statutory compliance and inspection; the Ministry does not calculate aggregate financial ratios from filed statements and warns that filing delays and defaults make cross year ratio comparisons unreliable.