Over a third of registered companies out of business

More than a third of the total 17 lakh registered companies in India were shuttered as of October-end, 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, stood at 17,04,319. There were 11,30,784 active companies as on October 31, 2017," the ministry said in a report.

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