Over a third of 1.7 mn registered firms closed due to illegal activities

More than one-third of the total 1.7 million registered companies in the country were shuttered as on end of October, latest official data showed.

While authorities step up their clampdown on companies suspected of being used as a conduit for illegal activities, the number of active firms stood at little over 11.30 lakh as on October 31.

The corporate affairs ministry, which is implementing the Companies Act, has so far struck off the names of around 2.24 lakh entities that have not been carrying out business activities for long.

"The total number of companies registered in the country as on October 31, 2017,