Gujarat witnessed closure of over 2,500 firms in four yearshttps://indianexpress.com/article/cities/ahmedabad/gujarat-witnessed-closure-of-over-2500-firms-in-four-years/

Gujarat witnessed closure of over 2,500 firms in four years

According to the data, tabled in Parliament by Minister for Corporate Affairs Arun Jaitley, Gujarat has 83,804 companies registered with the RoC.

More than 2,500 firms registered with the Registrar of Companies (RoC) in Gujarat have closed down during the last four years. In the same period, as many as 1,800 firms were struck off the list for not being operational.

The data shared by the Union Ministry of Corporate Affairs in the Lok Sabha earlier this month showed that the number of companies shutting down in Gujarat has more than doubled in the last four years. It rose from 342 in 2012-13 to 619 in 2013-14 and 738 in 2014-15 and finally 867 in the current fiscal (till November 26).

Only West Bengal (9,838 companies), Delhi (9,736 companies), Maharashtra (9,170), Telengana (7,627), Tamil Nadu (4,669) and Karnataka (2,653) have seen more closures in the last four years.

According to the data, tabled in Parliament by Minister for Corporate Affairs Arun Jaitley, Gujarat has 83,804 companies registered with the RoC. The ministry’s data for August 2015 noted most companies that shut down in the state were unlisted and private firms belonging to textiles, manufacturing and financial services sectors.

The number of non-functional companies in Gujarat, struck off by the RoC, rose from from 367 companies in 2012-13 to 662 in 2015-16 (till November 4). The RoC can strike off names of those companies which are not in operation.