Corporate Affairs Ministry registers record 1.67 lakh companies in FY21-22
The incorporations during FY 2021-22 are 8 per cent more than the incorporations during FY 2020-21.
Mohammad Haaris Beg
- Apr 18, 2022,
- Updated Apr 18, 2022 6:00 PM IST
The Ministry of Corporate Affairs (MCA) announced on Monday that it registered more than 1.67 lakh company incorporations during the financial year 2021-22 compared to 1.55 lakh companies during FY 2020-21. This is the highest number of companies incorporations registered by the MCA ever.
"The increase is significant considering that number of companies incorporated during Financial Year 2020-21 were the highest in any of the previous years," noted MCA in an official statement.
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The incorporations during FY 2021-22 are 8 per cent more than the incorporations during FY 2020-21. While MCA had registered 1.24 lakh companies during FY 2018-19 and 1.22 lakh companies in 2019-20 respectively, it had registered 1.55 Lakh companies during FY 2020-21.
During FY 2021-22, the states having the highest number of registrations were Maharashtra (31,107 companies) followed by Uttar Pradesh (16,969 companies) Delhi (16,323 companies) Karnataka (13,403 companies) and Tamil Nadu (11,020 companies).
Sector-wise, the maximum number of companies were incorporated in the Business Services (44,168 companies), followed by Manufacturing (34,640 Companies) Community, personal & Social Services (23,416 companies) and Agriculture & Allied Activities (13,387 companies).
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MCA stated that it is continuously striving to transform the regulatory environment and has taken several measures in recent past towards Ease of Doing Business (EoDB). These include revising the definition of small companies which has reduced the compliance burden on about 2 lakh companies.
The MCA has removed to fee for company incorporation up to Rs 15 lakh authorised capital. Measures also include incentivisation of incorporation of One Person Companies (OPCs) and de-criminalisation of technical & procedural violations under Companies & LLP Act.
Also read: Mindtree Q4 results: Net profit rises 49% to Rs 473 cr, final dividend declared
Also read: Wipro appoints Satya Easwaran as country head for India
The Ministry of Corporate Affairs (MCA) announced on Monday that it registered more than 1.67 lakh company incorporations during the financial year 2021-22 compared to 1.55 lakh companies during FY 2020-21. This is the highest number of companies incorporations registered by the MCA ever.
"The increase is significant considering that number of companies incorporated during Financial Year 2020-21 were the highest in any of the previous years," noted MCA in an official statement.
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The incorporations during FY 2021-22 are 8 per cent more than the incorporations during FY 2020-21. While MCA had registered 1.24 lakh companies during FY 2018-19 and 1.22 lakh companies in 2019-20 respectively, it had registered 1.55 Lakh companies during FY 2020-21.
During FY 2021-22, the states having the highest number of registrations were Maharashtra (31,107 companies) followed by Uttar Pradesh (16,969 companies) Delhi (16,323 companies) Karnataka (13,403 companies) and Tamil Nadu (11,020 companies).
Sector-wise, the maximum number of companies were incorporated in the Business Services (44,168 companies), followed by Manufacturing (34,640 Companies) Community, personal & Social Services (23,416 companies) and Agriculture & Allied Activities (13,387 companies).
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MCA stated that it is continuously striving to transform the regulatory environment and has taken several measures in recent past towards Ease of Doing Business (EoDB). These include revising the definition of small companies which has reduced the compliance burden on about 2 lakh companies.
The MCA has removed to fee for company incorporation up to Rs 15 lakh authorised capital. Measures also include incentivisation of incorporation of One Person Companies (OPCs) and de-criminalisation of technical & procedural violations under Companies & LLP Act.
Also read: Mindtree Q4 results: Net profit rises 49% to Rs 473 cr, final dividend declared
Also read: Wipro appoints Satya Easwaran as country head for India
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