One-third of registered firms have shut down, 15% only last year: Govt data

Crackdown on shell companies, failure to comply with norms reasons for companies folding up

A third of the companies registered with the Ministry of Corporate Affairs (MCA) have shut down, with nearly half of them folding up in the past year.

Data from the MCA reveals that as of January 31, 2018, about 1.7 million companies were registered with the government. Of these, 538,000, or about 32 per cent, had shut shop. About 238,000 or 15 per cent of the total, had folded up in the past year. This means one in seven firms shut down in the year.

On January 31, 2017, there were about 300,000 companies that had folded up, according to