12,892 companies removed from Registrar of Companies in 2020-21

12,892 companies removed from Registrar of Companies in 2020-21 The withdrawal of company names from the Registrar of Companies is an ongoing procedure. This was mentioned by Shri Rao Inderjit Singh, Union Minister of State for Corporate Affairs, in a written reply to a question in Rajya Sabha today. The Minister added that corporations can also request for the removal of their company name via Section 248(2) of the Act, which is an online application. The Minister said that an inactive company is defined in Explanation in I to Section 455(1) of the Act, which allows enterprises to attain the status of a Dormant Company. The Minister provided the following information about such companies: In response to a question about inactive and "Shell Companies," the Minister replied that the Companies Act, 2013, contains no definition of the phrase "Shell Company" (the Act). However, the Minister stated that under the provisions of Section 248 (1) of the Act, where the Registrar has reasonable cause to believe that a company has not carried on any business or operation for the two immediately preceding fiscal years and has not made any application for the status of a dormant company under Section 455, the Registrar shall, after following due process of law, remove the name of those companies from the register. The Minister further maintained that the government does not have a scheme called Saral Nikas Yojana.