30% of Indian companies face closure for doing zero biz in last 2 years

Nearly 25-30% Indian companies – those with zero turnover during the last two years – may lose their registration as part of the central government’s latest offensive against so called shell companies.
The ministry of corporate affairs (MCA) is planning to use provisions of Section 248 of the Companies Act to proceed against these “dormant companies” which remained passive for two consecutive years, even though they complied with the requirement to file returns (via).

Sign Up for Our Newsletters

Get smarter with most important stories.

You May Also Like