In FYs 2024 and 2023, 3,690 and 2,984 companies were registered in the State respectively.
| Photo Credit: Representational picture

VIJAYAWADA

Union Minister of State for Corporate Affairs Harsh Malhotra on Thursday (February 6) replied to a question by MP Parimal Nathwani in the Rajya Sabha that 3,169 companies were registered in Andhra Pradesh during the first 10 months of financial year (FY) 2024-25; of them, 200 have put up the shutters.

In FYs 2024 and 2023, 3,690 and 2,984 companies were registered in the State respectively, and a total of 430 companies shut down in FY 2024 and 2,413 in FY 2023.

Of the 3,169 companies registered in the first 10 months of FY 2024-25, 36 were registered as limited by guarantee, and the remaining 3,133 were registered as companies limited by shares.

Regarding the closure of 200 companies during that period, the reasons were amalgamation (two companies), conversion of limited liability partnerships (eight), liquidation/dissolution (three) and struck off by the Registrar of Companies (187).

The Minister said the Centre took the following initiatives for improving the ease of doing business: decriminalisation of 63 offences under the Companies and LLP Acts, amendment of definition of small companies (increasing the threshold limit of a small company from having a paid-up capital not exceeding ₹2 crore to ₹4 crore and turnover not exceeding ₹20 crore to ₹40 crore), zero fees for incorporation of companies with authorised capital up to ₹15 lakh, zero cost for shifting registered offices of companies and convening AGMs and EGMs through video conference.