Question : FILING OF ANNUAL RETURNS BY COMPANIES

(a) the number of companies that have been shut down within three years of their commencement during each of the last three years and the current year;

(b) whether the said companies have filed their balance sheets, annual returns and other returns/statements as envisaged in the Companies Act and other related Acts up to the date of their shut down;

(c) if so, the details thereof and if not, the reasons therefor along with the name of such companies;

(d) whether the Government has conducted any enquiry in this regard, if so, the details and the outcome thereof and if not, the reasons therefor;

(e) whether some real estate companies have been found indulged in corrupt practices with respect to acquisition of clearances in some States of the country including Haryana and if so, the details thereof; and

(f) the corrective steps taken/being taken by the Government in this regard?

THE MINISTER OF STATE IN THE MINISTRY OF CORPORATE AFFAIRS (SMT. NIRMALA SITHARAMAN)

(a) to (d) There is no provision for ‘shutting down’ of a company under Companies Act. However, Section 560 of the Companies Act, 1956 empowers Registrar of Companies to strike defunct companies off the register. The number of companies struck-off within three years of their commencement of business, during each of the last three financial years is given in the Statement at Annexure. The Statement also indicates the number of companies among them that have not filed their Annual Returns/Balance Sheets. The Government does not conduct any inquiry for non-filing of Annual Returns/Balance Sheets by closed companies.

(e) & (f) Information is being collected.