17,654 Firms Shut Shop This Fiscal So Far

New Delhi: As many as 17,654 companies have been closed down till January 26 in the current financial year and a total of 1,38,027 firms were registered during the same period, according to official data.

The data was shared by Minister of State (MoS) for Corporate Affairs Harsh Malhotra to the Rajya Sabha as part of a written reply on Tuesday. As per the data, 17,654 companies have been shuttered in the current financial year till January 26. The figure includes companies that have been amalgamated, converted into LLPs, liquidated/dissolved and struck off from the official records. The count of shuttered companies stood at 22,044 and 84,801 in 2023-24 and 2022-23, respectively.

The data was furnished in response to questions by YSRCP Rajya Sabha member Parimal Nathwani. Companies are registered in the country under the Companies Act, which is implemented by the Ministry of Corporate Affairs (MCA). The ministry also implements the Limited Liability Partnership (LLP) Act.