Business Environment - 10,113 Companies Closed Business From April 2020 To February 2021, Know What Is The Major Reason_Pic Credit Google

Business Environment – 10,113 Companies Closed Business From April 2020 To February 2021, Know What Is The Major Reason

Business Environment – 10,113 Companies Closed Business From April 2020 To February 2021, Know What Is The Major Reason – Due to the Corona epidemic spreading across the country, many companies have stopped functioning. consistent with data released by the Ministry of Corporate Affairs (MCA), from April 2020 to February this year, quite 10,000 companies within the country have voluntarily ceased operations. allow us to know that the economic activity has been affected thanks to the lockdown imposed within the country, thanks to which these companies are greatly affected.

Business Environment – 10,113 Companies Closed Business From April 2020 To February 2021, Know What Is The Major Reason

The latest data available with the Ministry of Corporate Affairs (MCA) has revealed that a complete of 10,113 companies had been closed under Section 248 (2) of the businesses Act, 2013 within the current fiscal year till February. Section 248 (2) means companies had closed their businesses voluntarily and undue to any punitive action.

Anurag Singh Thakur said this

In a written reply to an issue within the Lok Sabha on Monday, Minister of State for Corporate Affairs Anurag Singh Thakur said that the ministry doesn’t keep any record of companies that have gone out of business. During the year 2020-21, a complete number of 10,113 companies are closed under section 248 (2) of the Act. MCA has not conducted any campaign to strike against the businesses .

Know where many companies closed

Let us tell you that consistent with the figures of the Ministry, a complete of two ,394 companies were closed Delhi. While 1,936 companies were closed Uttar Pradesh . During the amount April 2020 to February 2021, 1,322 companies and 1,279 companies closed Tamil Nadu and Maharashtra respectively.In Karnataka 836 organizations were shut intentionally, contrasted with 501 in Chandigarh, Rajasthan (479), Telangana (404), Kerala (307), Jharkhand (137), Madhya Pradesh (111) and Bihar (104).

Talking about other states and union territories, Meghalaya (88), Odisha (78), Chhattisgarh (47), Goa (36), Pondicherry (31), Gujarat (17), West Bengal ( 4) and Andaman and Nicobar (2).

Why was the business closed?

In the wake of the epidemic, the central government implemented a nationwide lockout in late March 2020 to curb the spread of coronovirus infection and in May of that year the restrictions began to be relaxed. thanks to this lockdown, these companies suffered tons thanks to which they closed their business.

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