4267 new companies registered in last six years in J&K: Ministry of Corporate Affairs

Srinagar, Nov 29: The Ministry of Corporate Affairs Monday informed the parliament that a total of 4267 new companies have been registered by the Registrar of Companies between April 2016 to March 2021 in the union territory of Jammu and Kashmir.

The Minister of State (MoS) Rao Inderjit Singh in the Ministry of Corporate Affairs was replying to the queries raised in the Lok Sabha on Monday.

Notably, the winter session of the parliament began today during which several queries were raised while the main focus of the day remained farm law bills.

Replying to the query as per news agency—Kashmir News Observer (KNO) the MoS said that a total of 4267 new companies have been registered by the Registrar of Companies while a total of 1786 companies have closed down after the demonization, GST, and the COVID-pandemic in Jammu and Kashmir.

Given the year-wise breakup regarding the registration of new companies, the Minister informed that between 01.04 2016 to 31.3 2021 include 274 companies. In 2016 – 17, the companies registered were 1545. From 2018 to 2019, 494 new companies were registered.  Similarly, between 2019 to 2020, 820 companies were registered while between 2020 to 2021, 677 new companies have been registered till date.

The total number of newly registered companies is 4267 in J&K as per the reply.

About the shutdown of companies during the same period, the minister informed that a total of 1786 companies were closed between 1.4. 2016 to 31.3. 2021. Between 2016 to 2017, 61 companies were closed.  Between 2017 to 2018, the companies closed were 539. Between 2018 to 2019, 497 companies got closed. In 2019 to 2020, 607 companies got closed. In 2020-2021 only one company got closed. Similarly, 81 companies were closed between April 2021 to date.

The minister also informed that MCA vide General Circular No.17/2021 dated 29.10.2021 has provided relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AO, C-4 Non-XBRL, and MGT-7/MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013.

Regarding Ladakh, the minister informed that a total of 36 new companies were registered while no company was shut down during these years.

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