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The last year saw businesses hit with pandemic adding their difficulties,
interestingly, the number of companies filing for bankruptcy applications has
experienced a decrease between 2018 to 2020. These statistics are expected to boost
more confidence. ÂÂ
As per data provided by the National Company Law Tribunal (NCLT),
149 in the year 2018, 103 in the year 2019 and 72 in the year 2020 making a
total of 324 companies that have filed for bankruptcy during the aforesaid
three years period.
This was stated by Shri Anurag Singh Thakur, Union Minister of State for
Finance & Corporate Affairs, in a written reply to a question in Rajya
Sabha today.
Giving more details, the Minister stated, as per data provided by the
NCLT, 8,330 applications in the year 2018, 12,091 in the year 2019 and 5,282 in
the year 2020 were filed under the IBC. Therefore, it appears that number of
applications have not increased over the last three years.
As per the Companies Act 2013, companies are required to hold Annual
General Meeting (AGM) within six months from the end of the financial year.
Therefore, financial statements and board report containing disclosure about
CSR, are to be filed in MCA21data base within 30 days of the AGM. Thus, for the
current financial year no filing has been made by CSR mandated companies.
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INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
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