Coronavirus: 54,000 Companies Closed in Telangana, AP Says MCA Report

Hyderabad: 42,311 companies in Telangana and 10,838 companies in Andhra Pradesh are either closed or stuck off due to coronavirus, MCA (The ministry of corporate affairs) said in a report.

A ROC (registrar of companies) official told TOI reporter that they have struck down many companies for not handling annual returns, balance sheets and for other rules’ violations.

“Some of these companies have voluntarily closed and others have been merged. There are almost all types of closures,” he added further.

“There are many companies in the process of being shut down. We have given a chance for them to link PAN. If they don’t do so, these firms will be struck off the rolls,” said the ROC official.

In AP, there are 19,460 active companies at present and 62,902 in Telangana.

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