Latest news with #RegistrarofCompanies
Hans India
2 days ago
- Business
- Hans India
Over 37,000 companies opted for voluntary strike-off in 2 years: Centre
New Delhi: Between May 1, 2023, and June 30, 2025, a total of 37,212 companies voluntarily removed their names from official records under Section 248(2) of the Companies Act, 2013, the Parliament was informed on Tuesday. 'During the period from 01.05.2023 to 30.06.2025 total number of 37212 companies have availed the exit process under Section 248(2) of the Companies Act, 2013,' according to figures furnished by Minister of State for Corporate Affairs Harsh Malhotra, in a written reply to a question in the Rajya Sabha. These companies chose to exit the registry after extinguishing all their liabilities, following the due process prescribed under the law, the minister said. Section 248(2) allows companies to apply for strike-off if they are no longer carrying on business and have cleared all dues. Responding to a question the minister clarified that while the last government-led strike-off drive under Section 248(1) was conducted in 2022-23, no such mass drive is currently underway. 'Under Section 248(1), the Registrar of Companies can strike off firms that have not carried out any business or operations for two consecutive financial years and have not applied for dormant status, or where subscribers have not paid the promised share capital within 180 days of incorporation,' he mentioned. A voluntary strike-off is when a company decides to close down on its own, with the approval of its shareholders, after clearing all its pending debts and dues. The company then applies to have its name removed from the official register of companies, which means it will no longer exist. This is different from an involuntary strike-off, where the Registrar of Companies (ROC) starts the process to close a company because it has not been following the rules or has been inactive.
Time of India
2 days ago
- Business
- Time of India
Agritech DeHaat's FY25 revenue up 11% to Rs 3,000 crore
Synopsis Temasek-backed DeHaat clocked revenue of Rs 3,000 crore in FY25, an 11% increase from the prior year, and is currently operating at an annual revenue run rate of Rs 4,000 crore, said Shashank Kumar, who is also its chief executive. He did not provide the profit and revenue figures for the first quarter, or the bottom line for the last fiscal year. The company has yet to file the financial statements for FY25 with the Registrar of Companies.
Time of India
5 days ago
- Business
- Time of India
Cloud kitchen firm EatClub to raise Rs 185 crore from Tiger Global, A91 Partners, 360 One
Synopsis According to filings with the Registrar of Companies, the company will use the funds for growth and expansion. The company, which runs brands such as Faasos and Behrouz Biryani, also saw a top-deck recast, with founder and CEO Jaydeep Barman transitioning into the chairman's role—being replaced by founder Ankush Grover as chief executive.
The Sun
09-07-2025
- Business
- The Sun
SSM warns against false statements to registrar of companies
KUALA LUMPUR: The Companies Commission of Malaysia (SSM) has issued a stern reminder to the public against submitting false or misleading statements to the Registrar of Companies. Legal action will be taken against offenders, reinforcing the importance of compliance and ethical business practices. SSM emphasised its commitment to enforcing corporate laws, ensuring businesses uphold integrity. The warning follows a recent case at the Kajang Criminal Sessions Court involving a company director accused of allowing false statements regarding director appointments. Sandra Sheager Chidambaram, the director in question, was charged under Section 593(a) of the Companies Act 2016. If convicted, she faces up to 10 years in prison, a fine of RM3 million, or both. She pleaded not guilty and was granted bail of RM12,000. The next court mention is scheduled for August 22. - Bernama
India Today
03-07-2025
- Business
- India Today
Meesho files confidential papers for IPO to raise Rs 4,250 crore: Report
Indian e-commerce company Meesho has taken its first big step towards going public by filing confidential documents for an initial public offering (IPO), reported Reuters. The company plans to raise about Rs 4,250 crore (around $497.30 million) in fresh funds through this share of the company's current investors will also sell part of their stake, but no further details are known yet. According to a document filed with the Registrar of Companies, Meesho has already got the green light from its shareholders for this IPO everything goes well, Meesho wants to list its shares by September or October this year. This timeline was first reported by Moneycontrol. Meesho is a popular name in India's growing e-commerce market and competes with big players like Amazon and Flipkart. It is backed by well-known global investors, including Prosus, Elevation Capital, WestBridge Capital, SoftBank, and Peak XV confidential filing allows Meesho to get feedback from market regulators without making its financial details and business strategies public too soon. Many companies use this method to protect sensitive information before they hit the stock market. Recently, Groww and Shadowfax also filed confidential papers for their own business has been growing fast. In the financial year 2024, its revenue rose by 33% to Rs 7,615 crore. The good news for investors is that the company's losses have dropped sharply too, from Rs 1,675 crore the year before to just Rs 305 crore now, showing that it is controlling costs a slow start to the year because of global tensions, India's IPO market is back in action. By the end of June, Indian IPOs had raised about $5.86 billion, which makes up around 12% of total IPO funds collected around the world so far this year, according to LSEG more excitement ahead as well. Reports say up to 143 IPOs worth a possible $26 billion are in the pipeline, according to data from PRIME this move, Meesho could become one of the most-watched companies to go public this year, giving investors another major home-grown tech brand to bet on.- EndsMust Watch
