Press Information Bureau

Government of India

Ministry of Corporate Affairs

12-December-2011 18:54 IST

As per the present policy of the Ministry, companies which have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more are identified as ‘dormant companies’.

The details of the dormant companies are as under:

As on 31.03.2011- 1, 74, 400

As on 07.12.2011- 1, 56, 474

The Government has no plan to ensure that only companies which has a long vision are registered.

The Minister of State for Ministry of Corporate Affairs Shri R.P.N. Singh gave this information in a written reply in Rajya Sabha today.

ST/bs

Dormant companies designation applies where firms fail to file mandated annual returns and balance sheets; government records counts. Companies are classified as dormant companies where they fail to file annual returns and balance sheets for three consecutive years; the Ministry of Corporate Affairs identifies such companies under its present policy, publishes aggregate counts, and has stated it does not plan to restrict company registrations to those professing a long-term vision.