54th Annual Report

On the Working and Administration of the Companies Act, 1956 Year Ended March 31, 2010

MINISTRY OF CORPORATE AFFAIRS GOVERNMENT OF INDIA

NEW DELHI

The Report has been prepared in pursuance of Section 638 of the Companies Act, 1956, which lays down that the Central Government shall cause a general Annual Report on the Working and Administration of the Act to be prepared and laid before both Houses of Parliament within one year of the close of the year to which the Report relates. It covers the period from April 1, 2009 to March 31, 2010.

New Delhi

CONTENTS

CHAPTER PAGE No.

CHAPTER I 1 - 14 General Review

CHAPTER II 15 - 25 Review of Corporate Sector

CHAPTER III 26 - 39 Applications and Documents received under different Sections of the Companies Act, 1956

CHAPTER IV 40 - 41 Corporate Management

CHAPTER V 42 - 55 Inspections, Investigations, Prosecutions, Oppression & Mismanagement, Cost Audit, Investors Education and Protection Fund, Investor Protection and Vanishing Companies

CHAPTER VI 56 Liquidation of Companies

CHAPTER VII 57 - 69 Mobilization of Funds by the Corporate Sector

CHAPTER VIII 70 Financial Aggregates of Corporate Sector

APPENDIX: 73 - 96 STATISTICAL STATEMENTS (I TO XXIV)

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Ministry of Corporate Affairs The Report relates to the 54th year of the Working & Administration of the Companies Act, 1956, namely, the financial year ending 31st March, 2010.

Introduction1.1 The Ministry of Corporate Affairs administers several statutes relating to the corporate sector including “The Companies Act, 1956”. Beside, it also administers the following Acts:

i) The Chartered Accountants Act, 1949

ii) The Cost and Works Accountants Act, 1959

iii) The Company Secretaries Act, 1980

iv) The Partnership Act, 1932 v) The Societies Registration Act,

1860 vi) The Companies (Donation to

National Fund) Act, 1951 vii) The Monopolies and Restrictive

Trade Practices (MRTP) Act, 1969 (repealed w.e.f. 1st September, 2009)

viii) The Competition Act, 2002 as amended by Competition (Amendment) Act, 2009

ix) Limited Liability Partnership (LLP) Act, 2008.

Organisational set-up1.2.1 The Ministry has a three tier organisational set-up for administration of the Companies Act, 1956 namely, the Secretariat at New Delhi, the

Regional Directors at Mumbai, Kolkata, Chennai, Noida (U.P.), Ahmedabad and Guwahati (Assam) and the Registrars of Companies in States and Union Territories and 20 offices of Registrars of Companies (ROCs) in States and Union Territories. 19 offices of the Official Liquidators who are attached to various High Courts functioning in the country are also under the overall administrative control of the Ministry. A brief description of the above offices/establishments is given in the following paragraphs.

A. Headquarters

1.2.2 The set-up at the Headquarters includes Secretary, one Special Secretary, three Joint Secretaries, an Economic Adviser, one Cost Adviser, two Directors of Inspection and Investigation and other officials providing expertise on legal, accounting, economic and statistical matters.

B. Regional Directors

1.2.3 The Six Regional Directors are in-charge of the respective regions, each region comprising a number of States and Union Territories. They supervise the working of the offices of the Registrars of Companies and the Official Liquidators working in their regions. They also maintain liaison between the respective State Governments and the Central Government in matters relating to the administration of the Companies Act, 1956. Certain powers of the Central Government under the Companies Act have been delegated to the Regional Directors. They have also been declared as Heads of Department. There is an Inspection Unit attached to the office of every Regional Director for carrying out the inspection of the books of accounts of companies under Section 209A of the Companies Act, 1956.

CHAPTER - I

General Review

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C. Registrars of Companies

1.2.4 Registrars of Companies (ROCs) appointed under Section 609 of the Companies Act, 1956 covering various States and Union Territories are vested with the primary duty of registering companies floated in the respective States and the Union Territories and ensuring that such companies comply with statutory requirements under the Act. These offices function as registry of records, relating to the companies registered with them, which are available for inspection by members of the public on payment of the prescribed fee. The Central Government exercises administrative control over these offices through the respective Regional Directors.

D. OfficialLiquidators1.2.5 The Official Liquidators are officers appointed by the Central Government under Section 448 of the Companies Act, 1956 and are attached to various jurisdictional High Courts. The Official Liquidators are under the administrative charge of the respective Regional Directors, who supervise their functioning on behalf of the Central Government. In the conduct of winding-up of affairs of the companies, however, Official Liquidators act under the directions and supervision of the High Courts. At the same time, the Central Government have the responsibility under Section 463 of the Companies Act, 1956 of exercising overall control over the Official Liquidators to ensure that they faithfully perform their duties and duly observe all the requirements imposed on them under the Act or the Rules there-under.

1.2.6 The duties and powers of the Official Liquidator as laid down in section 457 of the Companies Act, 1956 are mainly of, filing of claims against the debtors for realization of the debts due to the company, sale of movable and immovable assets of the company taken possession by the Official Liquidator, instituting criminal complaints and misfeasance proceedings against the former Directors of the company for their acts and omissions and breach

of trust, invitation of claims from the creditors, adjudication of claims and settlement of list of creditors, payment to creditors by way of dividend and settlement of list of contributories wherever necessary and payment of return of capital where the company’s assets exceeded its liability and finally dissolve the company under section 481 of the Companies Act,1956.

Company Law Board1.3.1 Company Law Board is an independent, quasi-judicial body created under the Act of Parliament and derives its power under Section 10E of the Companies Act, 1956. Its become functional on 31.5.1991. The Company Law Board has framed its own Regulations i.e. the Company Law Board, 1991 which prescribe the procedure for filing applications/petitions before it. To smoothen the function of Company Law Board, the Central Government has also prescribed fees for making applications/petitions before the Company Law Board under the Company Law Board (Fees on applications and Petitions) Rules 1991.

1.3.2 The Board has its Principal Bench at New Delhi and has Regional Benches at New Delhi, Mumbai, Kolkata and Chennai. From 1st April, 2008 onward the matters falling under section 247, 250, 269, and 388B of the Companies Act, 1956 and under section 2A of the Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969) are being dealt with by the Principal Bench consisting of one or more Member. Henceforth in view of the fact the repeal of MRTP Act w.e.f. 01.09.2009 which has been notified on 28.08.2009, Company Law Board will no more deal with the same. All other sections of the Act i.e. 17, 18, 19, 58A, 58AA, 79/80A, 111/111A, 113/113(3), 117, 117C, 118, 141, 144, 163, 167, 186, 196, 219, 235, 237(b), 284, 304, 307, 397/398, 408, 409, 614, and 621A of the Companies Act, 1956 and Section 45QA of the Reserve Bank of India Act, 1934 are dealt with by Regional Benches namely New Delhi Bench, Chennai Bench, Kolkatta Bench and Mumbai Bench consisting of one or more

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Members. In case the company fails to comply with the directions contained in the Orders so passed by the Company Law Board, application under section 634A of the Companies Act, 1956 for enforcing the orders are entertained.

1.3.3 During 01.04.2009 to 31.03.2010, 2538 applications were considered u/s 58A (9) of the Companies Act, 1956 and 45QA of the RBI Act, 1934 of which 566 were disposed of. Under other Sections of the Companies Act, 1956, 13568 petitions were considered out of which 10991 petitions were disposed of during this period. This includes 2030 cases compounded under section 621A of the Companies Act, 1956.

1.3.4 Shri S. Balasubramanian who was Chairman of Company Law Board super-annuated on 02.11.2009. Hon’ble Justice (Retd.) Dilip Raosaheb Deshmukh a retired judge of Chhattisgarh High Court assumed charge as Chairman of Company Law Board on 27.11.2009. Sh. K.K.Balu, Vice-Chairman, CLB superannuated on 14.09.2009.

1.3.5 As against the sanctioned strength of 9 Members (including Chairman and Vice-Chairman) the constitution of the Company Law Board as on 31st March, 2010, is as follows:- 1. Justice (Retd.) Dilip Raosaheb

Deshmukh, Chairman 2. Smt. Vimla Yadav, Member

(Technical) 3. Shri Kanthi Narahari, Member

(Judicial) 4. Shri R.Vasudeven, Member

(Technical) (under suspension) 5. Smt. Lizamma Augustine, Member

(Judicial) 6. Sh. B.S.V. Prakash Kumar, Member

(Judicial)1.3.6 Taking into consideration the hardships being faced by the small and needy depositors who have deposited the amount in fixed deposits with the companies which are not refunding

the same as per the promise given by them at the time of taking the said amount in deposits, the Company Law Board have appointed 19 Hardship Committees under the Chairmanship of Secretary, CLB to consider and place before the Company Law Board the grievances and priority for payment of the fixed deposit amount on pro-rata basis.

1.3.7 Presently, every month a Hardship Committee meeting are held in CLB, New Delhi as per Company Law Board’s order for refund of deposit on hardship grounds in respect of 19 companies. The cheques/drafts for refunds are distributed by CLB on receiving the same from the companies in respect of the cases received by CLB. There are lots of improvements in terms of redressal of grievances of the small and needy depositors. Up to 31st March, 2010, a sum of Rs.6.35 crores (approx.) has been disbursed to 2941 depositors. Thus, 100% redressals of complaints received by CLB on hardship grounds are ensured.

1.3.8 Payment to fixed deposit holders of M/s. Pure Drinks (New Delhi) Ltd., is being made by Company Law Board in compliance with the order passed by Hon’ble High Court of Punjab & Haryana. Till 31st March, 2010, 11634 cheques have been issued to the depositors of Pure Drinks (New Delhi) Ltd. for an amount of Rs. 5.34 crore (approx). In all cases of payments for both Principal and Interest, cheques are issued under the signature of the Secretary, CLB, New Delhi.

1.3.9 The total filing fees received by the CLB during 01.04.2009 to 31.03.2010 is Rs. 57,97,563/- and compounding amount realized during the same period is Rs. 1,99,98,566/-.

1.3.10 The details of petitions/applications received and disposed of by all the Regional Benches including the Principal Bench and Additional Principal Bench during the period from 1.04.2009 to 31.03.2010 is given in Table 1.1.

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Table 1.1Consolidated Statement of Petitions/ Applications received, disposed of and

pending during the period from 1.4.2009 to 31.3.2010

Composition of Bench & Section

Opening Balance as on

1.4.2009

Received during the

year

Total (Col. 2 & 3)

Disposed of during the

year

Pending as on

31.3.2010(1) (2) (3) (4) (5) (6)

Single Member BenchSec. 17 91 1083 1174 1047 127Sec. 18/19 6 45 51 41 10Sec. 45QA of RBI Act. 81 4 85 56 29Sec. 58A(9) 869 1584 2453 510 1943Sec. 58AA(1) 13 0 13 5 8Sec. 79/80A 6 2 8 4 4Sec. 113/113(3) 5 25 30 21 9Sec. 117 0 0 0 0 0Sec. 117 C 179 3 182 1 181Sec. 118 0 0 0 0 0Sec. 141 82 6645 6727 6569 158Sec. 144 0 0 0 0 0Misc. Applications 57 338 395 324 71Sec. 163 3 6 9 1 8Sec. 167 12 4 16 4 12Sec. 186 5 6 11 4 7Sec. 196 0 3 3 0 3Sec. 219 0 2 2 0 2Sec. 284 7 10 17 6 11Sec. 304 0 0 0 0 0Sec. 307 0 0 0 0 0Sec. 614 1 3 4 1 3Sec. 621A 505 2334 2839 2030 809Total (a) 1922 12097 14019 10624 3395Double Member Bench Sec. 111 174 70 244 47 197Sec. 634 A 1 3 4 2 2Total (b) 175 73 248 49 199Total (a+b) 2097 12170 14267 10673 3594Principal Bench and Additional Principal Bench Cases u/s. 235, 237(b), 247,250, 288(4), 388B, 397/398, 408, 409 and Interlocutory Applications.

773 1066 1839 884 955

Grand Total 2870 13236 16106 11557 4549

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Petitions/Applications considered and disposed of by the Company Law Board during the period from 1.4.2009 to 31.3.2010

Single Member Bench

Double Member Bench

Principal Bench and Additional Principal Bench

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E-Governance in Company Law Administration

1.4.1 With a view to enhance efficiency in delivery of services and move towards electronic corporate governance, the Ministry of Corporate Affairs has implemented the ‘MCA21 e-Governance Project’. It is a holistic initiative offering 100 plus MCA services through a single portal. All registry related services, such as Name Availability, Incorporation of company, Filing of all annual statutory returns, Registration, modification and satisfaction of charges, Statutory filings related to all events as stipulated in the Companies Act (with the exception of matters related to liquidation), Inspection of documents, Issue of certified copies, Approvals from Regional Director, Approvals from the Central Government and Investor complaints are introduced through electronic filing and offered through a secure portal. The portal services can be accessed/ availed from anywhere, at any time that best suits the corporate entities, professionals and the public at large.

MCA21’ E-Governance Project

1.4.2 The Ministry of Corporate Affairs has implemented MCA21 e-Governance Project. It is one of the Mission Mode Projects of the Government of India under the National e-Governance Plan. The project envisages easy and secure online access to all registry related services provided by the MCA, including registration and filling of documents throughout the country for

all the corporate and other stakeholders at any time and in a manner that best suits them and in a manner that best suits them. During the year, E-stamping has been introduced in MCA21 portal. This has enabled the stakeholders to make payment of stamp duty on MCA21 portal itself. The revenue collected by way of stamp duty is remitted to RBI at the end of the week and the RBI remit the same to respective States Government within a day time. E-Governance system for LLP was made operational on April 1st 2009. The system was designed and developed by NIC. All eForms except Form 11 (Annual Returns of LLP) is available for users for filing. Payment via credit card is also enabled. Currently there are 1055 LLPs are registered as on March 31st, 2010 including conversion from companies & firms. 5246 DPINS are allocated. It is planned to introduce other modes of payments like net banking & challan, as in MCA21.

1.4.3 During the year 2009-10, a number of initiatives were taken in this direction. 17 e-forms were revised and a new e-form 68 was introduced for rectification of mistakes made in form 1A, 1 and 44 to improve the operational efficiency and enhance compliance. Operation of the system was switched over from the Data Centre in Delhi to the Disaster Recovery Centre in Chennai to establish that the disaster recovery centre is fully geared to handle full MCA21 processing in case of a disaster. Following operational statistics bring out the stability in the system, increased volume of filings and improved compliance:

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Sl. No.

Description Number

Filing Status as on March 31, 20101. Average portal hits per day 40 Lakh2. Total filings through the system till 31.03.2010 99.42 Lakh3. Number of Companies registered online 2,42,3054. Total DIN issued till date 12.33 Lakh5. Company records viewed online 10.65 Lakh6. Number of Balance Sheets filed 15.91 Lakh7. Number of Annual Returns filed 16.01 Lakh8. Number of E-Stamping transaction upto 31.03.2010 986379. Amount of E-Stamping collected upto 31.03.2010 6078.08 Lakh

LLP is a legal entity separate from its partners and has perpetual succession. Ministry of Corporate Affairs has setup a single central Registry at Delhi for registration of LLP and filing of further returns with Registrar LLP online on it’s website namely, www.llp.gov.in on 1st April, 2009.

1.5.2 Through the notification No. GSR 6(E) dated 6th January, 2010, the Central Govt. in exercise of powers conferred by sub-section (1) of section 67 of Limited Liability Partnership Act, 2008 (6 of 2009), made applicable the winding up provisions of the Companies Act, 1956 to a Limited Liability Partnership, except where the context otherwise requires, with certain modifications. Through the notification No. GSR (24E) dated 11th January, 2010 the Central Government has notified Limited Liability Partnership Amendment Rules, 2010. The Central Government has notified the Limited Liability Partnership (Winding up and Dissolution) Rules, 2010 vide GSR 266(E) dated 30th March 2010.

Revision of Companies Act and other related Legislations

Legal framework for Limited Liability Partnership (LLP):

1.5.1 The provisions of the newly enacted Limited Liability Partnership Act, 2008 have been notified for implementation with effect from 31-03-2009. The Limited Liability Partnership Rules, 2009 have been notified on 1st April, 2009. The provisions relating to conversion of partnership firms, private company and unlisted public company into LLP came into effect from 31st May 2009. LLP is a new business vehicle in the body corporate form and therefore a separate legal entity which limits the liability of the partners to their agreed contribution. Any two or more individuals or bodies corporate may incorporate an LLP for carrying on a lawful business with a view to profit. LLP structure is not restricted to any specific trade, business, profession or service.

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Comprehensive revision of the Companies Act:

1.6 A comprehensively revised Bill, the Companies Bill, 2008 was prepared in consultation with Ministry of Law and was introduced in the Lok Sabha on 23-10-2008 in the 14th Lok Sabha and subsequently referred to the Department related Parliamentary Standing Committee on Finance for examination and report. However, before the said Committee could present its report, 14th Lok Sabha was dissolved and the Companies Bill, 2008 lapsed as per clause (5) of Article 107 of the Constitution of India. In view of this, the same Bill, without any change expect the change in respect of Bill year and Republic year, has been introduced in the Lok Sabha as the Companies Bill, 2009 on 03.08.2009 and subsequently, the said Bill has been referred to the Standing Committee on Finance for examination and report. Currently, the Bill is under examination of the said Committee and further necessary actions would be taken after the report of the Committee is available with the Central Government.

Revision of Forms prescribed under various rules of the Companies Act, 1956

1.7.1 On the basis of the suggestions received and in–house examination of Forms prescribed under Companies (Central Government’s) General Rules & Forms 1956 in the Ministry, a review was undertaken to revise the existing forms which would bring further improvement and enhancement in service delivery under MCA-21 e-Governance Project. 14 forms namely Form 1, Form 5, Form 8, Form 10, Form 17, Form 19, Form 20, Form 20A, Form 24B, Form 25A,

Form 32, Form 44, Form 49 and Form 61 were undertaken for revision and implemented in the system for use by the stakeholders. Two new forms namely Form 67 and Form 68 were introduced for filing addendum and for Rectification of mistakes of Form 1, Form 1A and Form 44 vide notification Nos. GSR-643(E) dated 7.9.2009 and GSR-177(E) dated 5.3.2010, respectively. The objectives of the revision of aforesaid Forms were to make the filing easier and more clarificatory to the users, to make ease of back office processing of e-forms for prompt response to the user and to bring further improvement in the e-forms by changing/adding or deleting fields therein to elicit information in accordance with the provisions of the Companies Act, 1956.

1.7.2 Further, the Companies (Electronic Filing and Authentication of Documents) Rules, 2006 and Scheme for Filling of Statutory Documents and other Transactions by Companies in Electronic Mode, 2006 have been amended vide notification Nos. GSR 642(E) dated 7.9.2009 and S.O. 2276 (E) dated 7.9.2009 and S.O. 3314(E) dated 31st December, 2009 for payment of stamp duty online payable on Form No.1, MOA, AOA, Form No.5 and 44 through MCA portal and dispensation of physical submission of such documents in the office of ROCs. After implementation of e-stamping, it would be very convenient and friendly for stakeholders to pay the stamp duty along with filing fees of the documents and the ROCs would not have to wait for physical submission thereof and can dispose off the documents relating to incorporation of a company and for increase in the nominal capital immediately after e-filing.

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Convergence of Accounting Standards with International Financial Reporting Standards (IFRS)

1.8.1 Accounting Standards are policy documents relating to various aspects of measurement, treatment, presentation and disclosure of accounting transactions and events. The purpose of Accounting Standards is to standardise diverse accounting policies with a view to eliminate incomparability of financial statements. The objective is to provide a set of standard accounting policies which are in conformity with generally accepted principles and policies.

1.8.2 Pursuant to the provision of section 211 (3C) of the Companies Act, 1956, the Companies (Accounting Standards) Rules, 2006 were notified in the Gazette of India dated 7th December 2006. At present, 28 Accounting Standards have been notified. Every company registered under the Companies Act, 1956 is required to comply with these Accounting Standards.

1.8.3 International Financial Reporting Standards (IFRSs) are considered a “principles based” set of standards in which they establish broad rules as well as dictate specific treatments. There is also a Framework for the Preparation and Presentation of Financial Statements which describes some of the principles underlying IFRSs. The objective of financial statements is to provide information about the financial position, performance and changes in the financial position of an entity that is useful to a wide range of users in making economic decisions, and to provide

the current financial status of the entity to its shareholders and public in general.

1.8.4 India has adopted policy of convergence with IFRSs keeping in view the requirements of change and transition necessary to be followed by Indian companies and regulatory bodies. Therefore, the initiative for harmonization of Indian Accounting Standards with the IFRSs has been taken up with the intention of achieving convergence with IFRSs by 2011. India has decided to apply converged Indian Accounting Standards in phases for different categories of companies (depending on specified criteria) starting on 1st April, 2011.

1.8.5 NACAS has examined the about 35 IFRS Standards and has recommended 34 Indian Accounting Standards [IND-AS] i.e. Converged Accounting Standards. The same has been processed for notification officially and it is likely to be notified by the month end of January, 2011. NACAS has also recommended the Revised Schedule VI comprising two parts i.e. Part ‘A’ and Part ‘B’. Part ‘A’ is based on Indian Accounting Standards [IND-AS] i.e. Converged Accounting Standards to be notified and Part ‘B’ is based on Accounting Standards i.e. existing notified Accounting Standards vide Companies (Accounting Standards) Rules 2006.

NOTIFICATIONS, GENERAL CIRCULARS AND PRESS NOTES

1.9 During the period from 1.4.2009 to 31.3.2010, the following Notifications and Press Notes were issued:-

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NOTIFICATIONS :-

Sl No.

NotificationNumber.

Date Subject

1. GSR-229 (E) 1.4.2009 The Limited Liability Partnership Rules, 2009.

2. S.O.-903 (E) 2.4.2009 Amendment to the Constitution of National Advisory Committee on Accounting Standards (NACAS).

3. GSR-251 (E) 15.4.2009 The Companies (Issues of Indian Depository Receipts) (Second Amendment) Rules, 2009.

4. GSR-257(E) 17.4.2009 The Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2009-Revision Forms namely 19, 20, 20A, 44 and 49 will into effect from 31st may, 2009.

5. GSR-259 (E) 20.4.2009 The Competition Commission of India (Term of the Selection Committee and the manner of the Selection of penal of names) Second Amendment Rules, 2009

6. GSR-260 (E) 20.4.2009 The Competition Appellate Tribunal ((Term of the Selection Committee and the manner of the Selection of penal of names) Amendment Rules,

7. GSR-284 (E) 24.4.2009 The Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2009 – Revision Forms namely 8, 10, 17 and 61 will into effect from 19th July, 2009.

8. S.O.-1323 (E) 22.5.2009 The Limited Liability Partnership Act, 2008 to come into force from 31.5.2009.

9. S.O.-1324 (E) 22.5.2009 The Limited Liability Partnership Rules, 2009 to come into force from 31.5.2009.

10. S.O.-1357 (E) 27.5.2009 Amendment to the Constitution of National Advisory Committee on Accounting Standards (NACAS) vide S.O.-1270 (E) dated 30.5.2008.

11. GSR-385 (E) 4.6.2009 The Limited Liability Partnership (Amendment) Rules, 2009.

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12. GSR-386 (E) 4.6.2009 Alteration in the second, third and fourth Schedule to the Limited Liability Partnership Act, 2008.

13. GSR-522 (E) 14.7.2009 Eleven more Nidhi Companies.

14. GSR-540 (E) 21.7.2009 Authorizing the officers of SFIO for the purposes of filing and conducting prosecution under the Companies Act, 1956.

15. S.O.-1800 (E) 21.7.2009 Constitution of National Advisory Committee on Accounting Standards (NACAS).

16. GSR-642(E) 7.9.2009 Amendment to the Companies (Electronic filing and Authentication of documents) Amendment Rules, 2006.

17. GSR-643 (E) 7.9.2009 Amendment to the Companies (Central Government’s ) General Rules and Forms Rules, 1956- Revising Forms namely 1, 5, 44 and 67.

18. S.O.2276(E) 7.9.2009 Amendment to the Scheme for filing of Statutory Document and other Transactions by Companies.

19. GSR-649 (E) 8.9.2009 Amendment to the Companies (Central Government’s) Rules and Forms Rules, 1956-Revision of Forms namely 24B and 25A .

20. S.O.-2851 (E) 6.11.2009 Amendment to S.O.-1800 (E) dated 21.7.2009 regarding National Advisory Committee on Accounting Standards (NACAS).

21. S.O.-3203 (E) 14.12.2009 Amendment to S.O.-1800 (E) dated 21.7.2009 regarding National Advisory Committee on Accounting Standards (NACAS).

22. S.O.-3314(E) 31.12.2009 Scheme for filing of Statutory Documents and other Transactions by Companies in Electronic Mode (Amendment) Scheme, 2009.

23. GSR-6(E) 06.01.2010 In exercise of powers conferred by sub-section (1) of section 67 of Limited Liability Partnership Act, 2008 is provided in the Companies Act’1956 shall apply to a L.L.P. except where the context otherwise requires for modifications.

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24. GSR-24(E) 11.01.2010 The Limited Liability Amendment Rules, 2010.

25. GSR-68(E) 10.02.2010 Companies (Central Government) Rules & Forms (Amendment) 2010.

26. GSR-177(E) 05.03.2010 Companies (Central Government) Rules & Forms (Second Amendment) 2010.

27. GSR-266(E) 30.03.2010 LLP (Winding up & Dissolution) Rules, 2010.

GENERAL CIRCULARS:-

1. 01/2009 16. 6.2009 Status of non resident holder of Global Depository Receipts (GDR)-clarification regarding.

2. 02/2009 20.7.2009 Action under section 614A (2) of the Companies Act, 1956 – instructions to ROCs.

PRESS NOTES:-

1. 01/2009 06.08.2009 Convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS) –Core Group meeting to arrive at a roadmap for convergence.

2. 02/2009 23.10.2009 Convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS).

3. 01/2010 12.01.2010 Convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS).

4. 02/2010 22.01.2010 Convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS).

5. 03/2010 31.03.2010 Convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS).

DEPARTMENTAL CIRCULARS :- NIL

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Serious Fraud Investigation Office(SFIO)

1.10.1 Serious Fraud Investigation Office (SFIO) has been set up by the Government of India in the Ministry of Corporate Affairs by way of a resolution dated 02.07.2003 after it was approved by the Cabinet vide its note dated 09.01.2003. This office was set up to investigate corporate frauds of serious and complex nature.

1.10.2 The SFIO is a multi-disciplinary Investigating Agency, wherein experts from banking sector, capital market, company law, general law, forensic audit, taxation, information technology etc. work together to unravel a corporate fraud. At present, SFIO is carrying out investigation under provisions of the Companies Act from Sections 235 to 247. However, as approved by the cabinet, a separate legislation would be enacted for SFIO in second phase to provide adequate power and reach to this organization. For this purpose, Vepa Kamesam Committee set up by Ministry of Corporate Affairs to look into the issue related to SFIO and make suitable recommendation has already submitted the report in April 2009. The recommendations of the Committee are under examination in Ministry of Corporate Affairs.

1.10.3 SFIO takes up investigation of corporate frauds characterized by (a) complexity, and having inter-departmental and multi-disciplinary ramifications, (b) substantial involvement of public interest to be judged by size, either in terms of monetary misappropriation, or in terms of persons affected; and (c) the possibility of investigations leading to, or contributing

towards, a clear improvement in systems, laws or procedures.

1.10.4 SFIO is headed by a Director as Head of Department. He is of the rank of Joint Secretary to the Government of India. The Director is assisted by Additional Directors, Joint Directors, Sr. Assistant Directors and Assistant Directors, who form teams for investigation of a case. The Head Office of SFIO is at Delhi and there is one Branch Office in Mumbai.

National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT)

1.11.1 The Government has notified the commencement of sections 2 and 6 of the Companies (Second Amendment) Act 2002 on 01.04.2003 to initiate steps to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT).

1.11.2 However, The National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) have not been constituted as yet since the Companies (Second) Amendment Act, 2002 relating to the establishment of NCLT and NCLAT faced a legal challenge on account of a Special Leave Petition (SLP) filled by the Central Government in Supreme Court, against a ruling by the Madras High Court in the Matter. The SLP was referred to Constitutional Bench and the said Constitutional Bench has passed a final order on 11.5.2010. Pursuant to the said order, the process for setting-up of NCLT and NCLAT has been initiated and it is at various stages. The Supreme Court order dated 11.5.2010 was examined

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Revenue Receipts and Expenditure during 2005-06 to 2009-10

Year Revenue Receipts (Rs. crore) Expenditure (Rs. crore)

(1) (2) (3)

2005-06 728.22 74.21

2006-07 1038.19 122.19

2007-08 1304.17 111.49

2008-09* 1231.78 205.47

2009-10 1235.06 226.11**

* Revised** Authorization of Rs.6.35 crore was issued by the Principal Accounts Office, MCA to different

agent Ministries and has since been included in the expenditure for the year 2009-10.

vis-à-vis Companies Bill, 2009 and some changes have been incorporated in Companies Bill, 2009. The changes proposed are broadly in accordance with the said judgment without losing the spirit of the judgment, keeping in view the practical and implementation aspects involved in the administration of such provisions.

Revenue Receipts & Expenditure: 2005-06 to 2009-10

1.12 The Revenue Receipts and Actual Expenditure incurred under the Companies Act, 1956/MRTP Act, 1969 during the last five years are indicated below:

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CHAPTER II

Review of Corporate Sector

2.1 Growth of the Corporate Sector in terms of registration of new companies in different categories, companies at work, liquidation of companies and data on foreign companies during the year 2009-10 are reviewed in this chapter.

Company registration

2.2.1 During the year 2009-10, 67817 companies were registered under the Companies Act, 1956. These include 61 Government companies with liability limited by shares, 67509 non-Government companies with liability limited by shares, 23 non-Government companies with unlimited liability and 224 Non-Government companies with liability limited by guarantee and associations not for profit. The number of new companies registered during the year was

equivalent to 8.0 per cent of the companies at work as on 31.3.2010. The authorised capital of 67570 companies with liability limited by shares registered during the year aggregated to Rs. 41,796.83 crore.

2.2.2 Of the 67570 companies with liability limited by shares registered during the year, 2031 were public limited companies with an authorised capital of Rs.25960.49 crore and 65539 were private limited companies with an aggregate authorised capital of Rs.15836.34 crore. Table 2.1 sets out the pattern of registration of new companies during the year 2009-10. Region/State-wise distribution of companies limited by shares registered during the year 2009-10 is given in Statement-I ( Appendix).

Table 2.1Companies registered during the year 2009-10

Type of Company Government Non-Government TotalNo. of

CompaniesAuthorised

Capital (Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)(1) (2) (3) (4) (5) (6) (7)

1. Liability limited by Shares (i) Public Limited 41 4947.70 1990 21012.79 2031 25960.49(ii) Private Limited 20 133.55 65519 15702.79 65539 15836.34

Sub-Total 61 5081.25 67509 36715.58 67570 41796.832. Unlimited Liability 0 0.00 23 3.89 23 3.893. Liability limited by Guarantee and Associations not for profit

0 0.00 224 10.48 224 10.48

Total 61 5081.25 67756 36729.95 67817 41811.20

16

2.2.3 Industrial Activity–wise distribution of companies registered during the year 2009-10 is

indicated in Table 2.2 below:

Table 2.2Registration of New Companies Limited by Shares during the year 2009-10:

(Distribution by Industrial Activity wise)

Sl. No.

Industrial Classification

Public Limited Private Limited TotalNo. of

CompaniesAuthorised

Capital (Rs.

Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

(1) (2) (3) (4) (5) (6) (7) (8)1 Agriculture and

Allied Activities115 124.99 1456 372.12 1571 497.11

2 Mining and quarrying

38 373.10 788 385.69 826 758.79

3 Manufacturing 421 3733.29 11576 5145.60 11997 8878.894 Electricity, Gas and

water Companies141 9070.88 1115 526.84 1256 9597.72

5 Construction 258 735.67 7042 1589.65 7300 2325.326 Trade, Hotels and

Restaurants196 208.54 12900 1861.71 13096 2070.25

7 Transport, Storage and Communication

65 8505.91 2147 444.50 2212 8950.41

8 Finance, Insurance, Real Estate & Business Services

626 2776.07 23385 4453.12 24011 7229.19

9 Community, Personal and Social Services

171 432.04 5130 1057.11 5301 1489.15

10 Unclassified 0 0.00 0 0.00 0 0.00 Total 2031 25960.49 65539 15836.34 67570 41796.83

Activity -wise Distribution of Newly Registered Companies (2009-10)

17

2.2.4 The number of companies with liability limited by shares registered during the last five years from 2005-06 to 2009-10 is given in Table 2.3. This shows that the number of

new companies with liability limited by shares registered during the year 2009-10 was higher by 4.63 percent over the new companies registered during the previous year.

Table 2.3

Registration of New Companies Limited by Shares during the years 2005-06 to 2009-10

Year Public Limited Private Limited Total

No. of Companies

Authorised Capital

(Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

(1) (2) (3) (4) (5) (6) (7)

2005-06 1890 7688.11 52130 11894.10 54020 19582.21

2006-07 1950 47297.45 49758 25213.45 51708 72510.90

2007-08 2597 32768.73 62762 42439.64 65359 75208.37

2008-09 2396 10985.64 62186 19642.25 64582 30627.89

2009-10 2031 25960.49 65539 15836.34 67570 41796.83

18

Companies at work

2.3.1 There were a total of 847165 companies

at work as on 31st March, 2010, as summarised in Table 2.4 below.

Table 2.4Companies at work as on 31st March, 2010

Sl. No. Type of Company Number of Companies

(1) (2) (3)I. Companies Limited by Shares

(a) Government Companies(i) Public Limited 1199(ii) Private Limited 443 Sub-Total (a) 1642(b) Non-Government Companies(i) Public Limited 81623(ii) Private Limited 752595 Sub-Total (b) 834218 Total (a+b) 835860

II. Companies with Unlimited Liability 678III. Companies limited by Guarantee and Associations not for profit 7577IV. Foreign Companies (as defined under Section 591 of the

Companies Act)3050

Grand Total 847165

2.3.2 State-wise and Industrial Activity-wise distribution of companies limited by shares at work as on 31st March, 2010 is given in statements V to X (Appendix) respectively.

2.3.3 The Companies limited by shares at work recorded a growth of 6.2 per cent during 2009-10 (i.e. as on 31.3.2010 as compared to 31.3.2009). The growth in number of Companies limited by shares at work between 31.3.2006 and 31.3.2010 was 14.2 per cent, private limited companies

grew by 15.5 per cent compared to 3.3 per cent in case of public limited companies.

Long Term Trends

2.4.1 Statement XI (Appendix) gives the data on growth of the corporate sector by various categories of companies at work during operation of the Companies Act, 1956 i.e. the years 1956-57 to 2009-10. It will be observed that the companies limited by shares have recorded a phenomenal

19

growth. The number of such companies at work increased by 28.5 times from 29357 at the end of 1956-57 to 835860 at the end of 2009-10.

2.4.2 Unlike companies limited by shares, the companies limited by Guarantee and Associations not for profit at work in the country have not shown much variation in their number over the period. Their number at the end of 1956-57 was 1364 which increased to 7577 at the end of 2009-10.

2.4.3 The first company with unlimited liability was registered in 1973-74. The number of such companies at the end of 2009-10 were 678.

2.4.4 Besides the companies registered under the Companies Act, 1956 there are Branches of Foreign companies, as defined under Section 591 of the Companies Act, operating in the country. The number of Branches of Foreign companies operating in the country, which was 551 at the end of 1956-57 remained almost constant till

1974-75. With the coming into force of the Foreign Exchange Regulation Act, 1973, on 1.1.1974, the number of such Branches recorded gradual decline till the end of 1980-81 when there were 300 such branches. Their number has increased thereafter and as on 31.3.2010, the figure is reported to be 3050.

GOVERNMENT COMPANIES

Registration of New Companies:

2.5.1 During the year 2009-10, 61 Government companies were registered with an authorised capital of Rs. 5081.25 crore. State-wise distribution of Government companies limited by shares registered during the year 2009-10 is given in Statement II (Appendix).

2.5.2 Table 2.5 shows trend in registration of Government companies during the last five years.

Table 2.5Registration of New Government Companies during 2005-06 to 2009-10

Year Public Limited Private Limited Total

No. of Companies

Authorised Capital

(Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

No. of Companies

Authorised Capital

(Rs. Crore)

(1) (2) (3) (4) (5) (6) (7)

2005-06 18 3948.65 06 224.20 24 4172.85

2006-07 52 12723.15 64 88.75 116 12811.90

2007-08 41 1752.81 68 167.05 109 1919.86

2008-09 64 3813.35 20 35.88 84 3849.23

2009-10 41 4947.70 20 133.55 61 5081.25

20

Government companies which ceased to work:

2.6 Eight (8) Government companies were reported to have ceased working during the year 2009-10.

Government companies at work:

2.7 There were 1591 Government companies limited by shares at work in the country as on 31st March, 2009. After taking into account the newly registered companies, conversion between Government and non-Government companies, mergers, amalgamation and liquidation, there were 1642 Government companies limited by shares at work in the country as on 31st March, 2010. Of these 1642 companies, 1199 were public limited and 443 were private limited companies. State-wise distribution of Government companies

limited by shares at work as on 31.03.2010 is given in Statement VI (Appendix).

NON-GOVERNMENT COMPANIESRegistration of New Companies:

2.8 During the year 2009-10, 67509 Non-Government companies limited by shares were registered in the country with an authorised capital of Rs. 36715.58 crore. Of these, 1990 were Public limited companies with aggregate authorised capital of Rs. 21012.79 crore and 65519 were Private limited companies with aggregate authorised capital of Rs. 15702.79 crore. State-wise distribution of Non-Government companies limited by shares registered during the year 2009-10 is given in Statement III (Appendix). Table 2.6 below indicates the trend in registration of new Non-Government companies limited by shares during the last five years.

Table 2.6 Registration of Non-Government Companies Limited by Shares during 2005-06 to 2009-10

Year Public Limited Private Limited TotalNo. of

CompaniesAuthorised

Capital (Rs. crore)

No. of Companies

Authorised Capital

(Rs. crore)

No. of Companies

Authorised Capital

(Rs. crore)(1) (2) (3) (4) (5) (6) (7)

2005-06 1872 3739.46 52124 11669.90 53996 15409.362006-07 1898 34574.30 49694 25124.70 51592 59699.002007-08 2556 31015.92 62694 42272.59 65250 73288.512008-09 2332 7172.29 62166 19606.37 64498 26778.662009-10 1990 21012.79 65519 15702.79 67509 36715.58

State-wise Distribution:

2.9 Out of 67509 Non-Government companies registered during the year 2009-10, 43146 companies or 63.9 per cent of the total

were registered in the 5 States/ Maharashtra, Delhi, West Bengal, Tamil Nadu and Andhra Pradesh. Maharashtra occupied the top position with 12065 new registration (17.9 per cent) followed by Delhi (17.4 per cent), West Bengal

21

(15.0 per cent), Tamil Nadu (7.0 per cent) and Andhra Pradesh (6.6 per cent). The other States and Union Territories together accounted for 24363 registrations of new Non- Government companies.

Industrial Activity Pattern:2.10 Table 2.7 shows the distribution of Non-Government companies by broad activity

classification registered during the year 2009-10. The largest number of companies registered during the year viz. 24008 companies or 35.6 per cent of the total, belonged to the group “Finance, Insurance, Real Estate & Business Services ” followed by 13095 or 19.4 per cent of the total registered under the group of “Trade, Hotels and Restaurants”.

Table 2.7 Industrial Activity pattern of Non-Government Companies limited

by share registered during 2009-10

S.No. IndustrialClassification Number of Companies

Authorised Capital

Number Percent (Rs. Crore)

Percent

(1) (2) (3) (4) (5) (6)1 Agriculture and Allied Activities 1571 2.33 497.11 1.352 Mining and quarrying 814 1.20 670.74 1.833 Manufacturing 11992 17.76 8627.29 23.504 Electricity, Gas and water Companies 1236 1.83 5452.32 14.855 Construction 7296 10.81 2235.22 6.096 Trade, Hotels and Restaurants 13095 19.40 2069.75 5.647 Transport, Storage and Communication 2205 3.27 8580.26 23.378 Finance, Insurance, Real Estate &

Business Services24008 35.56 7224.04 19.67

9 Community, Personal and Social Services

5292 7.84 1358.85 3.70

10 Unclassified 0 0.00 0.00 0.00 Total 67509 100.00 36715.58 100.00

Non-Government Companies which ceased to work:

2.11 During the year 2009-10, 12890 Non-Government companies limited by shares were reported to have ceased to work either by going into liquidation or their names having been struck off

under Section 560(5) of the Companies Act. The aggregate paid-up capital of these companies was Rs. 608.39 crore. State/ Region-wise distribution of companies which ceased to work during 2009-10 is shown in Statement IV (Appendix). Table 2.8 shows the details of liquidated and struck off companies during the last five years

22

Table 2.8 Non-Government Companies which ceased to work during 2005-06 to 2009-10

Year Voluntary Liquidations Liquidations under Court’s Order

Companies struck off Total

No. of Companies

Paid-up Capital

(Rs. crore)

No. of Companies

Paid-up Capital

(Rs. crore)

No. of Companies

Paid-up Capital

(Rs. crore)

No. of Companies

Paid-up Capital

(Rs. crore)

(1) (2) (3) (4) (5) (6) (7) (8) (9)

2005-06 8 1.99 59 0.07 1313 10.54 1380 12.60

2006-07 0 0.00 65 394.48 17753 20910.86 17818 21305.34

2007-08 0 0.00 27 15.58 54307 35643.06 54334 35658.64

2008-09 0 0.00 28 11.68 17442 4868.66 17470 4880.34

2009-10 0 0.00 19 3.11 12871 605.28 12890 608.39

Non-Government Companies Limited by shares at work:

2.12.1 There were 834218 Non-Government companies limited by shares at work in the country as on 31st March, 2010. These comprised 81623 Public limited companies and 752595 Private limited companies. State-wise distribution of

Non-Government companies limited by shares at work as on 31.03.2010 is given in Statement VII (Appendix).

2.12.2 The non-Government companies at work as on 31.3.2010 registered 6.2 per cent increase over the previous year in terms of number of companies.

Non-Government Companies Limited by Shares at work during 1997-2010)

23

Government Companies with Unlim-ited liability2.13 As on 31.03.2010, there were 7 Government companies with unlimited liabilities at work.Non-Government Companies with Unlimited liability2.14 During the year 2009-10, 23 Non-Government companies with unlimited

liability were registered. These companies were mainly registered in the state of Delhi (11), West Bengal (4) and Rajasthan (3). There were 671 Non-Government companies with Unlimited Liability at work as on 31.03.2010. Table 2.9 gives state-wise distribution of Non-Government companies with unlimited liability during 2009-10.

Table 2.9 State-wise distribution of Non-Government Companies with

Unlimited liability During 2009- 10

Sl. No. State / Union Territory Number of Companies registered during 2009- 10

Number of Companies at work as on 31.3.2010

(1) (2) (3) (4)1. Andhra Pradesh 1 452. Arunachal Pradesh 0 13. Bihar 0 34. Goa 0 285. Gujarat 0 1646. Haryana 1 87. Himachal Pradesh 0 48. Jharkhand 0 19. Karnataka 1 9510. Kerala 0 211. Madhya Pradesh 1 612. Maharashtra 0 10513. Manipur 0 114. Orissa 0 415. Punjab 0 1516. Rajasthan 3 617. Tamil Nadu 1 818. Uttar Pradesh 0 1319. Uttarakhand 0 320. West Bengal 4 1721. Delhi 11 13722. Chandigarh 0 423. Puducherry 0 1

Total 23 671

24

Companies with Liability limited by Guarantee and Associations not for profit:2.15 During the year 2009-10, 224 Guarantee companies and Associations not for profit were registered under the Companies Act, 1956. The total number of Guarantee companies and Associations not for profit at work in the country as on 31.3.2010 was 7577.

Foreign Companies:2.16 As per section 591 of the Companies

Act, 1956, foreign companies mean companies incorporated outside India, which establish a place of business within India. The number of foreign companies which are reported to have place of business in the country as on 31.3.2010 was 3050. Table 2.10 gives the country-wise distribution of such foreign companies as on 31.3.2009 and 31.3.2010.

2.17 Statistical information given above is as generated under MCA21 system.

Table 2.10 DistributionofForeignCompaniesdefinedUnderSection591oftheCompaniesAct,1956

by their country of incorporation as on 31.3.2009 and 31.3.2010

Sl. No.

Country of incorporation of Foreign Companies

Number of Companies as on 31.03.2009 (Revised)

Number of Companies as on 31.03.2010

(1) (2) (3) (4)1. United States of America 402 4442. Singapore 292 3113. United Kingdom 215 2354. Japan 173 1855. Germany 110 1276. Hong Kong 96 1047. France 83 888. Republic of Korea 73 799. Australia 60 6110. Netherlands 55 5911. Italy 50 5412. Malaysia 40 4613. Switzerland 36 4014. China 33 3615. Canada 32 3516. Spain 28 3417. Thailand 27 3018. UAE 18 2819. Belgium 23 2520. Others 1004 1029 Total 2850 3050

25

26

CHAPTER III

Applications and Documents Received Under Different Sections of the Companies Act, 1956

3.1.1 The receipt and disposal of applications and documents under various Sections of the Companies Act, 1956 during the year 2009-10, except those relating to managerial personnel, are reviewed in this Chapter. Applications relating to managerial personnel are dealt with in Chapter IV.

3.1.2 The applications and documents are received either by (i) Regional Directors / Registrars of Companies and (ii) the Central Government / the Company Law Board. These have been reviewed separately under respective sub-heads.

Applications and Documents received by the Regional Directors/Registrars of CompaniesApplications received under Sections 20, 166(1), 210(4) & other various Sections of Companies Act, 1956.3.2.1 Applications received during the year 2009-10 in the Offices of the Registrars of Companies under Sections 20, 166(1), 210(4) & other various Sections of the Companies Act, 1956 aggregated to 295510. Of the total applications received during the year, 98265 applications related to availability of names under Section 20 of the Companies Act, 1956. The break-up of applications received during the last three years is given in Table 3.1.

Table 3.1 Applications received under Sections 20, 166(1), 210(4) & other various Sections of the

Companies Act, 1956 during the years 2007- 08, 2008- 09 and 2009-10

Subject/Section 2007-08 2008-09 2009-10B/F From previous

year

Received during

the year

Total Col.

(2)+(3)

B/F from previous

year

Received during

the year

Total Col.

(5)+(6)

B/F from previous

year

Received during the

year

Total Col.

(8)+(9)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)1. Availability of name (Section 20)

3882 78024 81906 2152 98021 100173 2067 98265 100332

2. Extension of Annual General Meeting (Section 166(1))

28 1635 1663 99 1618 1717 157 1571 1728

3. Extension of Financial year [Section 210(4)]

11 217 228 24 293 317 45 238 283

4 Other applications (Under various Sections)

4331 286084 290415 8292 60839 69131 6252 195436 201688

Total 8252 365960 374212 10567 160771 171338 8521 295510 304031

27

3.2.2 Taking into account the 295510 applications received during the year under review and 8521 applications brought forward from the previous year, the number of applications considered during the year came to 304031. Of

these, 283197 applications were allowed, 11479 were rejected and 9355 were under examination/ consideration at the end of the year. Table 3.2 gives Section-wise details of disposal of the applications during the year 2009-10.

Table 3.2 Disposal of applications received under Sections 20, 166(1), 210(4) & other

various Sections of the Companies Act, 1956 during the year 2009-10

Subject/Section B/F from the previous

year

Received during

the year

Total Col.

(2)+(3)

Allowed during

the year

Rejected during

the year

Pending at the end of

the year(1) (2) (3) (4) (5) (6) (7)

1. Availability of Name (Section 20)

2067 98265 100332 90579 7652 2101

2. Extension of Annual General Meeting (Section 166(1))

157 1571 1728 1130 492 106

3. Extension of Financial year (Section 210(4))

45 238 283 165 86 32

4. Other Applications (Under various Sections)

6252 195436 201688 191323 3249 7116

Total 8521 295510 304031 283197 11479 9355

Documents filed under Sections 159,160, 220 & other various Sections of the Companies Act, 1956.

3.3.1 The statutory documents filed by companies may be broadly classified under 3 categories viz. (i) Annual Returns (Sections 159 and 160), (ii) Balance Sheets and Profit and Loss Accounts (Section 220) and (iii) Other Documents. In all 2366856 documents were

filed by the companies with the Registrars of Companies during the year 2009-10. Of these, 455856 were Annual Returns under Sections 159 and 160 of the Act., 546484 were Balance Sheets and Profit and Loss Accounts filed under Section 220 of the Act, and the remaining 1364516 documents were filed under the miscellaneous provisions of the Act. The number of documents filed with the Registrars of Companies during the last three years are given in Table 3.3.

28

Table 3.3 Documents received under Sections 159, 160, 220 & other various Sections of the Companies

Act, 1956 during the years 2007-08, 2008-09 and 2009-10

Nature of Document and

Section concerned

2007-08 2008-09 2008-09

B/F from

previous year

Received During the year

Total Col. (2)+(3)

B/F from previous

year

Received during the

year

Total Col. (5)+(6)

B/F from previous

year

Received During The

year

Total Col. (8)+(9)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

1. Annual Returns

(Sections 159&160)

1458 361447 362905 1444 390083 391527 20260 455856 476116

2. Balance Sheets and Profit & Loss Accounts

(Section 220)

1340 379323 380663 1360 534723 536083 13871 546484 560355

3. Other Documents

(Under various Sections)

37253 1337827 1375080 42971 1382769 1425740

49752 1364516 1414268

Total 40051 2078597 2118648 45775 2307575 2353350 83883 2366856 2450739

Table 3.4 Disposal of Documents received under Sections 159, 160, 220 & other various

Sections of the Companies Act, 1956 during the year 2009-10

Nature of documents and Section concerned

B/F from the previous year

Received during the

year

Total Col. (2)+(3)

Taken on record

Returned for rectification

Pending at the end of the year

(1) (2) (3) (4) (5) (6) (7)1. Annual Returns

(Section 159 & 160)

20260 455856 476116 459066 7465 9585

2. Balance Sheets and Profit & Loss A/c

(Section 220)

13871 546484 560355 551666 5857 2832

3. Other Documents

(Under various Sections)

49752 1364516 1414268 1334249 22790 57229

Total 83883 2366856 2450739 2344981 36112 69646

3.3.2 Taking into account the 2366856 documents received during the year under review and 83883 documents brought forward from the previous year, the total number of documents requiring scrutiny during the year was 2450739. Of these, 2344981 documents were taken on

record as being in order, 36112 were returned for rectification of defects and 69646 remained pending at the end of the year. Section-wise details of disposal of documents are shown in Table 3.4.

29

Inspection of Documents Under Section 610(1)(a)

3.4 During the year 2009-10, 463275 documents were inspected in the Offices of the Registrars of Companies received from shareholders and members of the public under Section 610(1)(a) of the Companies Act,1956. The fees realised by the Registrars of Companies on this account amounted to Rs. 2,32,21,850/-. The number of documents inspected in the previous year (2008-09) was 408274 and the amount of fee realised was Rs. 2,04,09,900/-. The largest number of documents inspected during the year under review was of the Registrar of Companies, Delhi i.e. 108993 documents representing 23.53 per cent of the total. The number of documents in the office of the Registrar of Companies, Mumbai (viz. 100304 representing 21.65 per cent) came next, followed by documents inspected in the Office of the Registrars of Companies, West Bengal, Chennai, and Andhra Pradesh ( viz. 48620, 37590 and 33694 respectively) in that order. The documents inspected in the offices of these five Registrars of Companies together accounted for 71.05 per cent of the total documents inspected under this Section in the offices of all the Registrars of Companies during the year under review.

IssueofCertificatesandcertifiedcopiesof documents under Section 610(1)(b).

3.5 The number of certificates of incorporation and certified copies of documents issued during the year 2009-10 by the Registrars of Companies under Section 610(1)(b) of the Companies Act totalled 27992 and fees realised on this account

amounted to Rs.1,62,71,410/-. During the year 2008-09, 30291 certificates of incorporation and certified copies of documents were issued and fee of Rs. 1,77,08,275/- was realised.

Conversion of Companies under Section 31 and 43A

3.6 There were 1854 conversions of companies from private to public and vice-versa during the year 2009-10. Of these, 610 conversions from private to public and 1189 from public to private were by alteration of articles of association by special resolution under Section 31 of the Act. Remaining 55 conversions, were from private to public took place under Section 43A of the Act.

Complaints

(A) Complaint received and disposed of by ROCs

3.7.1 During the year 2009-10, 7375 complaints were received in the offices of the Registrars of Companies from shareholders and members of the public. The number of complaints received in the previous year was 6385.

3.7.2 During the year 2009-10, 7994 complaints were considered including 619 complaints brought forward from the previous year. Of these, action was taken on 6826 complaints after necessary scrutiny and inquiry and 1168 complaints remained pending at the end of the year. Table 3.5 gives the comparative position regarding the complaints received and disposed of by ROCs during the last three years.

30

Table 3.5 Complaints received and disposed of by ROCs during the years

2007-08, 2008-09 and 2009-10

Year B/F from the previous year

Received during the year

Total Col. (2)+(3)

Disposed of during the year

Pending at the end of the year

(1) (2) (3) (4) (5) (6)2007-08 1010 6627 7637 7238 399 2008-09 399 6385 6784 6165 619 2009-10 619 7375 7994 6826 1168

Nature of Complaints

3.7.3 The grounds of complaints varied in nature. 1299 complaints (17.6%) out of the total number of complaints received during the year 2009-10 related to non-payment of public deposits

by companies. The other grounds on which a large number of complaints received related to non-receipt of Balance-sheets (10.7%) and non-payment of dividend (5.7 % ). The break-up of complaints according to their nature is shown in Table 3.6.

Table 3.6 Nature of complaints received & disposed by ROCs during 2009-10

Sl. No. Nature of complaints

B/F from the

previous year

Received during

the year

Total Col.

(3)+(4)

Percentage of the total

receipts

Disposed of during the year

Percentage of the total

disposal

Pending at the end of

the year(1) (2) (3) (4) (5) (6) (7) (8) (9)

1 Non-payment of public deposits 91 1299 1390 17.4 1270 18.6 120

2 Mismanagement 8 248 256 3.2 226 3.3 303 Non-payment of dividend 72 418 490 6.1 447 6.5 43

4 Non-receipt of Balance Sheets 63 790 853 10.6 765 11.2 88

5 Non-receipt of Notices 4 138 142 1.8 130 1.9 12

6 Non-registration of Transfer of Shares 6 176 182 2.3 170 2.5 12

7 Non-issue of Share certificates 2 170 172 2.2 151 2.2 21

8 Improper holding of meetings 1 33 34 0.4 29 0.4 5

9 Non-holding of Annual General Meetings 3 69 72 0.9 62 0.9 10

10 Non-receipt of Dividend warrant 11 175 186 2.3 154 2.3 32

11 Misappropriation 0 45 45 0.6 40 0.6 512 Fraud/ Embezzlement 1 71 72 0.9 59 0.9 1313 Misapplication of funds 0 21 21 0.3 17 0.2 4

14 Improper election of Directors 0 8 8 0.1 7 0.1 1

15 Failure to allow inspection of Minute Books 1 6 7 0.1 5 0.1 2

16 Other complaints (Miscellaneous) 356 3708 4064 50.8 3294 48.3 770

Total 619 7375 7994 100.0 6826 100.0 1168

31

ROC-wise distribution of complaints

3.8 The Registrar of Companies, Mumbai received the largest number of complaints during the year 2009-10, viz. 1771 (24.0 per cent of the total) followed by the Registrars of Companies, Delhi/Haryana, Chennai, U.P. and Punjab/H.P./

Chandigarh, who received 1676, 729, 534, and 513 complaints respectively. These five Registrars of Companies together accounted for 70.82 per cent of the total number of complaints received during the year. The ROC-wise break-up of complaints received during the year 2009-10 is given in Table 3.7.

Table 3.7 ROC-wise break-up of complaints received during 2009-10

Sl. No.

State/ Union Territory B/F from the previous

year

Received during

the year

Total Col.

(3)+(4)

Percentage of Total receipts

Disposed of during the year

Percentage of grand

total disposal

Pending at the end

of the year

(1) (2) (3) (4) (5) (6) (7) (8) (9)

1 Andhra Pradesh 81 399 480 6.0 399 5.8 81

2 Assam 0 0 0 0.0 0 0.0 0

3 Bihar 0 25 25 0.3 25 0.4 0

4 Delhi/ Haryana 22 1676 1698 21.2 1340 19.6 358

5 Goa 37 16 53 0.7 26 0.4 27

6 Gujarat 0 364 364 4.6 364 5.3 0

7 Jammu & Kashmir 0 0 0 0.0 0 0.0 0

8 Karnataka 0 86 86 1.1 64 0.9 22

9 Kerala 0 107 107 1.3 107 1.6 0

10 Madhya Pradesh 0 178 178 2.2 178 2.6 0

11 Maharashtra (Mumbai) 191 1771 1962 24.5 1690 24.8 272

12 Pune 0 147 147 1.8 147 2.2 0

13 Orissa 0 16 16 0.2 16 0.2 0

14 Puducherry 2 6 8 0.1 8 0.1 0

15 Punjab/H.P./Chandigarh 30 513 543 6.8 529 7.7 14

16 Rajasthan 13 332 345 4.3 333 4.9 12

17 Chennai 0 729 729 9.1 667 9.8 62

18 Coimbatore 7 73 80 1.0 80 1.2 0

19 Uttar Pradesh 34 534 568 7.1 540 7.9 28

20 West Bengal 202 403 605 7.6 313 4.6 292

Total 619 7375 7994 100.0 6826 100.0 1168

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(B) Complaint received and disposed of by Head Quarters New Delhi.

3.9 The Investor Grievance Management Cell (IGMC) at Ministry’s Head Quarters, New Delhi received 1020 complaints from the investors/depositors during the period from 1.04.2009 to 31.3.2010 whereas 878 complaints were brought forward from the previous year. Out of a total of 1898 complaints, 62 complaint marked duplicate, 14 were forwarded to external agencies by ROCs, 486 complaints have been resolved/settled and 1336 complaints were pending for resolution as on 31.03.2010. Further, IGMC received 111 complaints pertaining to other Agencies and the same were forwarded to the respective Agencies for necessary action. Out of these, 48 complaints were forwarded to Securities and Exchange Board of India (SEBI), 9 complaints to Reserve Bank of India (RBI), 3 complaints to Ministry of Finance (Department of Economic Affairs), 49 complaints to Hardship Committee of Company Law Board (CLB) and one each to Ministry of Labour and Competition Appellate Tribunal (CAT).

Applications considered and disposed of by the Regional Directors and Registrars of Companies.

3.10 The powers and functions of the Central Government in respect of some Sections of the Companies Act,1956 have been delegated to the Regional Directors located at Kolkata, Mumbai, Chennai, Noida (U.P.), Guwahati and Ahemdabad and to the Registrars of Companies. Table 3.8 below shows the disposal of applications dealt with by the Regional Directors/ Registrars of Companies under the delegated powers. It would be seen that during the year under review 90,983 applications including 33,818 brought forward from the previous year were considered. The largest number of applications, viz. 45,969 (50.52 per cent of the total ) were considered under Section 560 of the Act regarding Striking of the name of companies in the register maintained by ROCs. Out of the total 90,983 applications, 65,515 were disposed of during the year leaving 25,468 applications pending as on 31st March, 2010.

Table 3.8 Applications considered and disposed of by the Regional Directors and Registrars of

Companies under various Sections of the Companies Act, 1956 during the year 2009-10

Sl. No

Section of the Companies Act and the subject matter

of the application

Applications Pending

as on 31.3.2009

Applications Received

during the year

2009-10

Total Col.

(3)+(4)

Applications disposed of during the

year 2009-10

Applications Pending

as on 31.03.2010

(1) (2) (3) (4) (5) (6) (7)

1. 21 - Change of name by company

538 9318 9856 9268 588

2. 22 - Rectification of name of company

70 70 140 38 102

3. 25 - Grant of licence 113 360 473 355 118

33

4. 25(8) - Alteration in Memorandum & Articles of Association

40 96 136 96 40

5. 31 - Alteration in Articles through Special Resolution

198 3769 3967 3737 230

6. 108(1D) - Extension of time for Registration of transfer of shares

47 28019 28066 28019 47

7. 224(3)&224(7) - Appointment and remuneration of Auditors

15 32 47 30 17

8. Section 394-A amalgation of companies (pub/pvt. Companies) by RD

140 1141 1281 1134 147

9. 555(7)(b) - Company liquidation Accounts

779 269 1048 145 903

10. 560 Striking of name of the companies in the Register maintained by ROC

31878 14091 45969 22693 23276

Total 33818 57165 90983 65515 25468

Applications received by the Central Government and Company Law Board

Invitation and acceptance of Deposits under Section 58A

3.11.1 Section 58A of the Companies Act, 1956 which came into force on 1.2.1975, regulates the invitation and acceptance of deposits by non-banking non-financial companies. The Companies (Acceptance of Deposits) Rules, 1975 framed in pursuance of sub-section (1) of Section 58A of the aforementioned Act, prescribe the limits up to which, the manner in which and the conditions subject to which deposits may be invited or accepted by these companies either from the public or from their members. These Rules prescribe every company to advertise at the time of inviting deposits, a summarized financial position of the company for the preceding two

financial years. The rules lay down the following conditions governing the acceptance of deposits:

Ceiling limits of deposits with reference to the company’s net worth.

Maximum period of 36 months for which the deposits can be accepted.

Maximum rate of brokerage, which can be paid by the company to brokers through whom the deposits are collected.

Maintenance of liquid assets to the extent of 15% of deposits maturing during the year to be invested in specified securities in order to safeguard the interests of depositors.

Maximum rate of interest payable on deposits.

34

3.11.2 Under the proviso to sub-section (7) of Section 58A of the Companies Act, 1956, the Government is empowered to exempt a class of companies from all or any of the provisions of Section 58A. The Ministry has granted exemption vide Notification GSR No. 1075E dated 29.12.1989 from the provisions of sub-section (1) to (6) of Section 58A in respect of acceptance of deposits through issue of Commercial paper by companies which satisfy the eligibility criteria laid down by Reserve Bank of India in the Non-Banking Companies (Acceptance of Deposits through Commercial Paper) Directions 1989. The said Notification has come into force on and from 1.1.1990.

3.11.3 Sub-section (8) of Section 58A of the Companies Act, 1956 empowers Central Government, if it considers necessary for avoiding any hardship or for any other just and sufficient reason, to grant extension of time to a company or class of companies to comply with or exempt any company or class of companies from all or any of the provisions of Section 58A either generally or for a specified period subject to such conditions as may be specified, either prospectively or retrospectively from a date not earlier than the commencement of the Companies (Amendment) Act, 1974. In case exemption is to be granted for a class of companies, it is to be done after consultation with Reserve Bank of India.

3.11.4 Sub-sections (9) & (10) of Section 58A Act of the Companies Act, 1956 empower the Company Law Board to take cognizance of any case of non-repayment of deposits on maturity and direct the company to make repayment of such deposits within such time and subject to

such conditions, as may be specified in the order. Non-compliance of the orders of the Company Law Board would attract penalty by way of imprisonment, which may extend to three years and shall also be liable to a fine of not less than Rs. 500/- for every day till such non-compliance continues.

(A) Applications Disposed of by the Central Government

(a) Applications for exemption/extension of time under section 58A (8).

3.12 During the period with effect from 1.4.2009 to 31.3.2010, seven (7) applications for granting exemption/extension of time under Section 58A (8) of the Companies Act, 1956 were received in addition to 10 applications brought forward from the previous year. Out of the total 17 applications, 11 applications were disposed of during the said period, and 06 applications were under examination as on 31.3.2010.

(b) Reduction of Equity Share Capital under Section 101

3.13.1 As of 31.03.2009, two (2) applications/ petitions were pending under Section 101 by (i) M/s. Durgapur Chemicals Ltd. and (ii) M/s. Gluconate Health Ltd.. During the year 2009-10, 2 more applications/ petitions were received from (i) M/s. State Farms Ltd. and (ii) M/s.National Project Conctruction Ltd.

3.13.2 Out of these 4 cases, 2 applications/petitions of (i) M/s. State Farms Ltd. and (ii) M/s Gluconate Health Ltd. were considered and disposed of. Remaining two applications/petitions were pending as on 31.03.2010.

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(c) Restriction on Acquisition/Transfer of certain shares under section 108A & 108B

3.14.1 Under section 108A & 108B, prior approval of the Central Government is required to be obtained for acquisition/transfer of shares by or to, an individual, firm, group constituent of a group, body corporate or bodies corporate under the same management in relation to dominant undertaking provided there is any increase in dominance as a result of such an acquisition or transfer of shares.

3.14.2 During the year 2009-10, two (2) applications one each u/s 108A and 108B were received and no application under these

sections was pending as on 31.03.2009. These 2 applications were disposed of during the year and no application was pending as on 31.3.2010.

(d) Permission to Government Companies under section 166

3.15 The Central Government has powers under Section 166(1) & (2) of the Companies Act, 1956 to grant extension of time by three months to Government Companies for holding Annual General Meetings (AGM) and for change of venue of AGM to a place other than where the registered office of the company is situated. The number of applications for extension of time and change of venue received and disposed of during the year 2009-10 are given in Table 3.9.

Table 3.9 Applications under Section 166 received and disposed of during 2009-10

Section of Companies Act, 1956

Nature of Applications

Pending at the

beginning

Received during the

Year

Total Col.

(3)+(4)

Disposal during the year

Pending as on

31.3.2010Request accepted

Request rejected

(1) (2) (3) (4) (5) (6) (7) (8)

166(1) Annual General Meeting (Extension of time)

0 194 194 192 2 0

166(2) Annual General Meeting (Change of venue)

0 30 30 30 0 0

TOTAL 0 224 224 222 2 0

(e) Payment of Dividends out of Reserve under section 205A (3)

3.16.1 Section 205A (3) of the Companies Act, 1956 makes it obligatory for a company to seek prior approval of the Central Government where owing to inadequacy or absence of profits in

any year, it proposed to declare dividend out of the accumulated profits earned in the previous years and transferred to the reserves and where declaration of dividend is not in accordance with the Rules, namely, the Companies (Declaration of Dividend out of Reserves) Rules, 1975 framed under the said section.

36

3.16.2 During the year 2009-10, two (2) applications were received under section 205A (3), while 1 application was brought forward from the previous year. All the 3 applications were disposed of during the year and no application was pending as on 31.3.2010.

(f) Change in rate of Depreciation under section 205(2)(c)

3.17.1 As on 31.03.2009, five (5) applications were pending under section 205 (2) (c) by (i) ONGC Ltd., (ii) Power Links Transmission Ltd. (iii) ISMT Ltd., (iv) NACIL, and (v) Air India Ltd. During the period from 1.4.2009 to 31.03.2010, four more applications were received from (i) Manaksia Ltd., (ii) New Tirupar Area Dev. Ltd. (iii) Maharashtra State Corporation Generation Co. Ltd. and (iv) GTL Infrastructure Ltd..

3.17.2 Out of above 9 cases, 3 applications of (i) ONGC Ltd (ii) Manaksia Ltd and (iii) Power Links Transmission Ltd were considered and disposed of. Remaining 6 applications were under consideration and pending as on 31.03.2010.

(g) Exemption from disclosing the quantitative details under section 211(4)

3.18.1 Part II of Schedule VI to the Companies Act,1956 dealing with the preparation of Profit and Loss Accounts provides that the manufacturing and other companies should give by way of notes, additional data in regard to turnover, installed capacity, licensed capacity, actual production, raw material consumed, opening and closing stock of good produced etc. Some of the Companies which on account of certain difficulties, are unable to comply with the said provisions to furnish the additional data, can approach the central Government for order

under section 211(4) of the Companies Act, 1956 for exemption from furnishing this information.

3.18.2 As on 31.03.2009, 76 applications were pending under section 211(4) of the Companies Act, 1956. During the period from 1.4.2009 to 31.03.2010, 215 more applications were received for seeking exemption from complying the requirements of para 3 and 4 Part-II of Schedule VI to the Companies Act, 1956.

3.18.3 Out of these 291 cases, 235 applications were considered and disposed of. Remaining 56 applications were under consideration and pending as on 31.03.2010.

(h) Exemption from annexing balance sheet of the subsidiary companies under section 212(8)

3.19.1 Section 212 of the Companies Act, 1956 provides that the Balance sheet of a holding company should include certain documents of its subsidiaries. However sub-section (8) thereof empowers the Central Government to exempt a holding company from the requirements of including in balance sheet the said documents of subsidiary companies.

3.19.2 As on 31.03.2009, 220 applications were pending under section 212(8) of the Companies Act, 1956. During the period from 1.4.2009 to 31.03.2010, 690 applications were received for seeking exemption from attaching the balance sheet etc. of their subsidiaries with their balance sheets as required under Section 212 (1) of the Act.

3.19.3 Out of these 910 cases, 732 applications were considered and disposed of. Remaining 178 applications were under consideration and pending as on 31.03.2010.

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(i) Appointment of Cost Auditors under section 233B(2)

3.20.1 Consequent upon the launch of MCA-21 Project under the e-Governance, companies under cost audit have started filing applications for appointment of cost auditors, through electronic mode from April, 2006.

3.20.2 During the year 2009-10, 1656 applications were received through e-mode for approval of appointment of cost auditors under sections 233B(2) of the Companies Act, 1956 as against 2004 applications received during the previous year 2008-09.

(j) Appointment of Sole Selling/Buying Agents under section 294AA (1), (2) & (3)

3.21.1 Sub-section 294AA (1) of the Companies Act, 1956 requires that where the Central Government is of the opinion that the demand for goods of any category is substantially in excess of the production or supply of such goods and that the services of the Sole Selling Agents will not be necessary to create a market for such goods, the Central Government may, by notification in the Official Gazette, declare that Sole Selling Agent shall not be appointed by a company for the sale of such goods for such period as may be specified in the declaration. At present, the said prohibition on appointment of Sole Selling Agents exists only in respect of ‘Bulk drugs, Drugs and Formulations’ which has been extended for a period of three years w.e.f. 5.4.2007 vide Notification No. GSR 272(E) dated 5.4.2007.

3.21.2 Sub-sections (2) and (3) of Section 294-AA of the Companies Act, 1956 require the companies to obtain approval of Central Government for appointment of Sole Selling Agents. Sub-section

(2) applies to those companies, in which the Sole Selling Agents either by themselves or through their relatives hold paid-up-capital of Rs. 5 lakhs or 5 per cent of the paid-up-capital of the company, whichever is less. Sub-section (3) applies to the companies whose paid-up capital is Rs. 50 lakh or more.

3.21.3 During the year 2009-10, eleven (11) applications were received under sub-sections (2) & (3) of Section 294AA of the Companies Act, 1956 while 8 applications were brought forward from the previous year. Out of the total 19 applications, 16 applications were disposed of and 3 applications were pending at various stages of consideration as on 31.3.2010.

(k) Loan to Directors, giving guarantee or providing security in connection with a loan- under section 295

3.22.1 Section 295 of the Companies Act, 1956 requires all public companies or their subsidiaries to obtain the previous approval of the Central Government before making any loan to, or giving any guarantee or providing any security in connection with a loan made by any other person to, or to any other person by their directors, relatives of such directors, firms or private companies in which such directors are interested and to other body corporate falling within the ambit of clauses (d) & (e) of sub-Section (1) of the said Section.

3.22.2 During the year 2009-10, the Central Government received 52 applications while 17 applications were brought forward from the previous year under Section 295. Out of these 69 applications, 36 applications were disposed of and 33 applications were pending as on 31.3.2010.

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(l) Contracts in which Directors are interested under Section 297

3.23.1 Section 297(1) of the Companies Act, 1956, as amended by the Companies (Amendment) Act, 1974 which came into force with effect from 1st February, 1975 makes it obligatory for companies having paid-up share capital of not less than Rs. 1 crore to seek prior approval of the Central Government in respect of any contract to be entered into (a) for sale, purchase or supply of goods, material or service or (b) for underwriting the subscription of any share or debentures of the company with a Director of the company or his relatives, a firm in which such a Director or relative is a partner, any other partner in such a firm or a private company of which a Director is a member or Director. The powers of Central Government to accord approval under Section 297(1) of the Companies Act, 1956 have been delegated to Regional Directors with effect from 19.8.1993. This has been done with the twin purposes of decentralisation and expeditious disposal.

3.23.2 During the period from 1.4.2009 to 31.3.2010, Regional Directors considered 2303 applications including 236 applications brought forward from the previous year. Out of these, 2043 applications have been decided leaving a balance of 260 applications under consideration with Regional Directors as on 31.3.2010.

(m) Amalgamation / Merger between Government companies under Section 391-394.

3.24.1 As on 31.03.2009, three (3) applications/petitions were pending under sections 391-394 by M/s. Madhya Pradesh State Industrial Development Ltd. And its secured and unsecured creditors and 14.4% Bond holders, including the creditors, (ii)

M/s. Keltron Magnetics Ltd (Transferor Company No.1), M/s. Keltron Resistors Ltd. (Transferor Company No.2) and M/s. Keltron Crystals Ltd. (Transferor Company No.3) with M/s. Keltron Component Complex Ltd. and (iii) M/s. Pabbar Vally Power Ltd. and M/s. Kinner Kailash Power Corp. Ltd. with H.P. Power Corp. Ltd.. During the period from 1.4.2009 to 31.03.2010, four (4) more applications/petitions were received from (i). M/s. Sponge Iron India Ltd. with M/s. NMDC (ii) Karnataka Small Ind. Marketing Corp. Ltd. with Karnataka State Small Ind. Dev. Ltd., (iii) UTI Infrastrucure and Services Ltd. with UTI Technology Services Ltd. and (iv) Maharashtra Melektroselt Ltd. with SAIL.

3.24.2 During the period from 1.4.2009 to 31.03.2010, Out of these 7 applications/petitions, 3 application/petition of (i) M/s. Keltron Magnetics Ltd (Transferor Company No.1), M/s. Keltron Resistors Ltd. (Transferor Company No.2) and M/s. Keltron Crystals Ltd. (Transferor Company No.3) with M/s. Keltron Component Complex Ltd. (ii) M/s. Pabbar Vally Power Ltd. and M/s. Kinner Kailash Power Corp. Ltd. with H.P. Power Corp. Ltd. and (iii) M/s. Sponge Iron India Ltd. with M/s. NMDC were considered and disposed of. Remaining 4 applications/petitions were under consideration and pending as on 31.03.2010.

(n) Amalgamation / Merger of Government companies on public interest under Section 396

3.25.1 As on 31.03.2009, four (4) applications/petitions were pending under section 396 by (i) M/s. Tamilnadu Goods Transport Corporation Ltd. with State Express Transport Corporation Ltd., (ii) Karnataka Small Industries Marketing Corporation Ltd. with Karnataka State Small Industries Development Ltd., (iii) Tamilnadu

39

Graphite Ltd. with Tamilnadu Mineral Ltd. and (iv) BRPL & SAIL. During the period from 1.4.2009 to 31.03.2010, no more application/petition was received.

3.25.2 Out of these 4 cases, 2 applications/petitions of (i) Karnataka Small Industries Marketing Corporation Ltd. with Karnataka State Small Industries Development Ltd. and (ii). BRPL & SAIL were considered and disposed of. Remaining 2 applications/petitions were under consideration and were pending as on 31.03.2010.

(o) Amalgamation of Public & Private companies under section 394A

3.26 During the year 2009-10, 1141 applications were received under this Section, while 140 were brought forward from the previous year. Out of total of 1281 applications, 1134 were disposed of and 147 cases were under examination as on 31.03.2010.

(p) Power to modify Act in its application to NIDHI, etc. under section 620A

3.27.1 Under section 620A of the Companies Act, 1956, the Central Government is empowered to declare by notification in the official gazette certain special type of Non-Banking Financial Companies as “Nidhi companies” or “Mutual Benefit Societies” as the case may be and direct that certain provisions of the Companies Act, 1956 shall not apply and/or, as the case may be, shall apply with certain exceptions, modifications and adaptations to the said Nidhi companies. The Central Government vide Notification GSR 522(E) dated 14.07.2009 declared 11 companies as Nidhi Companies. With this, the total number of Companies notified as Nidhi Companies is now 368 as on 31.3.2010.

3.27.2 During the year 2008-09, the Central Government received 12 applications under section 620A of the Companies Act, 1956 while 6 applications were brought forward from the previous year. Out of these 18 applications, 14 applications were disposed of and 4 applications were under examination for approval of the Central Government as on 31.3.20010.

(q) Applications under section 81(1) and (3)

3.28 During the year 2009-10, no application was received under section 81(1) and (3) for further issue of share capital and no application was pending as on 31.03.2009. Hence, no application was pending as on 31.3.2010.

B. Applications/Appeals disposed of by Company Law Board

3.29.1 Section 111 of the Companies Act, 1956 provides for transferors or transferees of shares in a company to appeal to the Central Government against the refusal of the company to register the transfer or transmission of shares, or against the failure within the prescribed time limit, to register the transfer or transmission of shares, or to intimate its refusal to register the transfer or transmission of shares. Powers under this Section are delegated to the Company Law Board Benches.

3.29.2 As on 31st March, 2009, 174 appeals under Section 111 were pending with the Company Law Board. During the year 2009-10, 70 appeals were received. Thus 244 appeals were considered during the year. Of these, 47 appeals were disposed of and 197 appeals were pending disposal for non-compliance of various formalities as on 31.03.2010 as per the Companies (Appeals to the Central Government) Rules, 1957.

40

Appointment of Managerial Personnel

4.1.1 The Ministry of Corporate Affairs deals with statutory applications relating to the appointment of and payment of remuneration to Managing Directors, Whole-time Directors and Managers of Public Limited Companies and of Private Limited Companies which are subsidiaries of Public limited companies under Section 259, 268, 269, 198/309, 310 and 314 of the Companies Act, 1956 in accordance with provisions of Schedule XIII to the said Act, as amended from time to time.

4.1.2 To bring greater transparency in processing of various statutory applications, the submission of applications on-line through the

website of the Ministry was operationalised since September, 2006. The companies can also track the status of their application on the website of the Ministry.

4.1.3 It has been observed that applications received are generally deficient in several respects. In order to have complete information at the initial stage itself, Form Nos. 25A and 24B have been revised and notified to make them more effective and to ensure speedy disposal of applications.

4.1.4 The details of receipt and disposal of statutory applications for the periods from 01.04.2009 to 31.03.2010 are given in Table 4.1 below:

CHAPTER - IV

Corporate Management

Table 4.1 Applications on Managerial Appointment received and disposed of by the Central

Government during 01.04.2009 - 31.03.2010

Under Section

Nature of Applications Brought forward

as on 01.04.2009

Received during

the year

Total (Col. 3+4)

Disposed of during the year

Pending as on

31.03.2010

(1) (2) (3) (4) (5) (6) (7)

259 Increase in number of Directors

18 20 38 28 10

268 Amendment of provisions in the Articles of Association relating to Managing Director or Whole time Director.

20 4 24 5 19

41

269/ Schedule

XIII, 309(1)(b),

309(4)/ (5B), 310

A p p o i n t m e n t /reappointment of Managing Director or Whole-time Directors/ managers, Remuneration to Directors for rendering professional services, Remuneration to Directors other than Managing Director or whole time Director/waiver of sums refundable to Directors and Increase in the remuneration of Director.

643 1320 1963 1126 837

314(1B) Appointment/continuance of relative of a Director to hold any office or place of profit in the company which carries total monthly remuneration of not less than Rs. 50,000 per month.

264 303 567 255 312

Total 945 1647 2592 1414 1178

42

Inspections

5.1.1 Section 209A of the Companies Act, 1956 empowers the Registrar of Companies or the officers duly authorised by the Central Government, to undertake inspection of the books of accounts and other records of companies. Several officers of the Ministry have been authorised under this Section to undertake inspections.

5.1.2 Broadly, inspections are undertaken to serve one or more of the following objects:

(i) to verify compliance by companies of various provision of the Companies Act,1956;

(ii) to verify whether the company accounts represent a true and fair picture of the company’s finances and whether the same have been disclosed in a manner consistent with Companies Act;

(iii) whether the company’s funds have been siphoned off, applied or diverted in a manner violative of the provision of the Act and whether the company management has misused its fiduciary position for any personal advantage in violation of the Act;

(iv) whether there are acts of mis-management or oppression which adversely affect the interest

of company stakeholders, or which may adversely prejudice such interests, which may merit the company to be wound up on just and equitable grounds under the Act;

(v) whether statutory auditors have carried out their duties properly while certifying true and fair view of the state of affairs of the company; and

(vi) to examine legal action under Companies Act if the company has made a default in filing its balance sheet and profit and loss account or annual return for any five consecutive financial years with the Registrar.

5.1.3 Inspections under Section 209A of the Companies Act, 1956 of the books of accounts of the company are generally ordered on the basis of:

(i) complaints received in the Ministry of Corporate Affairs or in its field offices about mis-management in respect of maintenance of books of accounts as prescribed under Section 209 of the Act, delay in transfer of share/debentures, delay in payment of dividend, non-payment of deposits or interest thereon etc.;

CHAPTER – V

Inspections, Investigations, Prosecutions, Oppression and Mismanagement, Cost Audit, Investors Education and Protection

Fund, Investor Protection and Vanishing Companies.

43

(ii) violations/irregularities noticed on scrutiny of documents including Auditors remarks filed in the office of the Registrar of Companies; and

(iii) reference received from other Govt. Departments/Agencies pointing out violations of the provisions of the Companies Act, 1956 or other irregularities.

5.1.4 Details of the number of inspections conducted and reports received by the Ministry during last 4 financial years are as under:

Year Number

2006-07 220

2007-08 189

2008-09 207

2009-10 204

Follow up of the report of Joint Parliamentary Committee (JPC) on Stock Market Scam.

5.2 The Government had set up a Joint Parliamentary Committee (JPC) to investigate the Stock Market Scam. JPC submitted its report in December 2002. The Ministry of Corporate Affairs was asked to furnish Action Taken Report

on certain recommendations of the JPC concerning this Ministry. Status reports in respect of points concerning MCA are forwarded regularly to JPC Cell in the Department of Economic Affairs which is monitoring the follow up action on the JPC Report from time to time.

Action taken under Section 237(b)/388(b)/397/398/402/406/408 of the Companies Act, 1956.

5.3.1 Section 397/398 of the Companies Act, 1956 provides power for filing of application before Company Law Board for relief in cases of oppression, mismanagement or apprehension of mismanagement of the affairs of the Company. Section 408 of the Act empowers the Central Government to appoint such number of persons on the Board of the company as directed by Company Law Board on the reference/application made by the Government to safeguard the interest of the company or its shareholders or the general public. In addition, the Central Government can also file petitions under Section 402 read with Section 406 of the Act for disgorgement of assets against the Directors of the Company when they indulged in misappropriation/misfeasance.

5.3.2 As on 31.3.2010, there were eight (8) cases pending before Company Law Board/High Court. The details of the same are given in table 5.1.

Table 5.1 Details of cases pending before CLB/High Court as on 31.03.2010

Sl. No.

Court Name of company Section Remarks

1. Company Law Board

UOI Vs. Satyam Computer Services Ltd.

397/398/388B/ 406&408

Pending

2. -do- UOI Vs. Maytas Infra Ltd. -do- -do-

44

3. -do- UOI Vs. Maytas Properties Ltd. -do- -do-4. -do- UOI Vs SHCIL Services Ltd. 250 -do-5. High Court M/s Mukta Art Ltd. 237 (b) High Court

accepted the appeal of the company and quashed the order of CLB.

6. -do- M/s Eveready Industries Ltd. 397 Pending7. -do- M/s Vikas WSP Ltd. 397 -do-8. -do- M/s Satyam Computers Services Ltd. Writ -do-

Investigations

5.4.1 The Investigation cases of companies u/s 235/237 of the Act are entrusted to the Serious Fraud Investigation Office (SFIO) on the following grounds/criteria:

(i) Where the size of the alleged fraud is estimated to be at least Rs. 50 crore or more, or;

(ii) Paid-up capital of the company is more than Rs. five crores, and 20% or more capital is subscribed by the public; or

(iii) When the alleged fraud involves widespread public concern estimated

to affect at least more than 5000 persons; or

(iv) Where investigation requires specialized skills and multi-disciplinary approach.

5.4.2 So far, 73 cases have been referred to SFIO for investigation. Out of these, SFIO has submitted investigation reports in 49 cases till 31.03.2010, two cases have either been stayed or dismissed by Courts and the remaining 22 cases are under investigation. Till date, 774 cases of prosecution have already been filed in the different Courts against the persons involved in fraudulent activities in the following companies as indicated in Table 5.2.

Table 5.2

Sl.No Name of the Company No. of casesCompany Law IPC

1. M/s Daewoo Motors India Ltd. 21 22. M/s Manmandir Estate Developers Pvt. Ltd. 2 13. M/s Triumph Securities Ltd. 22 1

45

Sl.No Name of the Company No. of cases

Company Law IPC

4. M/s Nakshatra Software Pvt. Ltd. 17 2

5. M/s Chitrakoot Computers Pvt. Ltd. 16 2

6. M/s Design Auto Systems Ltd. 11 2

7. M/s Bonanza Biotech Ltd. 16 1

8. M/s Panther Fincap and Management Services Ltd. 24 2

9. M/s Panther Investrade Ltd. 14 1

10. M/s Panther Industrial Products Ltd. 25 0

11. M/s Saimangal Investrade Ltd. 18 1

12. M/s Triumph International Finance India Ltd. 10 2

13. M/s Goldfish Computers Pvt. Ltd. 22 1

14. M/s Luminant Investments Pvt. Ltd. 11 0

15. M/s Vatsa Corporations Ltd. 106 8

16. M/s Kolar Biotech Ltd 24 4

17. M/s Soundcraft Inds. Ltd. 35 9

18. M/s Adam Comsof Ltd. 21 4

19. M/s Usha India Ltd. 27 7

20. M/s Malvika Steels Ltd. 27 6

21. M/s N.H. Securities Ltd. 24 1

22. M/s V.N.P. Securities Pvt. Ltd. 12 0

23. M/s K.N.P. Securities Pvt. Ltd. 15 0

24. M/s Mardia Chemicals Ltd. 22 1

25. M/s Koshika Telecom Ltd. 41 3

26. M/s Morepen Laboratories Ltd. 12 5

27. M/s Classic Credit Ltd. 17 1

28. M/s Classic Shares and Stock Brokers Ltd. 36 0

29. M/s DSQ Software Ltd. 23 2

30. M/s Shonkh Technologies Ltd. 17 1

31. M/s Shonkh Technologies International Ltd. 9 0

32. M/s Satyam Computers Services Ltd. 7 0

Total 704 70

46

5.4.3 The Ministry of Corporate Affairs had constituted an Expert Committee to advise the Government on issues concerning the Serious Fraud Investigation Office vide Order No. 2/1/2004. CL-V dated 23rd February 2006. The Expert Committee has submitted its report on 29.04.2009 and the report is under examination in the Ministry.

5.4.4 During the year 2009-10, the Ministry has ordered/ referred Six (6) cases to SFIO for investigation under Section 235/237(b)/247 of the Companies Act, 1956. The Ministry has received Thirteen (13) investigation report for the period 01.04.2009 to 31.03.2010 as indicated in table 5.3.

Table- 5.3

Details of investigation reports submitted during 1.4.2009 to 31.3.2010

Sl.No. Name of the Company Date of receipt of investigation report

1. M/s Satyam Computers Services Ltd. 13.4.2009

2. M/s JVG Steels Ltd. 30.6.2009

3. M/s JVG Industries Ltd. 3.7.2009

4. M/s JVG Housing Finance Ltd. 13.7.2009

5. M/s JVG Farm Fresh Ltd. 3.8.2009

6. M/s JVG Overseas Ltd. 3.8.2009

7. M/s JVG Securities Ltd 10.8.2009

8. M/s Elder Pharmaceuticals Ltd. 10.8.2009

9. M/s JVG Leasing Ltd. 28.8.2009

10. M/s Krishi Export Commercial Corporation Ltd. 7.9.2009

11. M/s JVG Departmental Stores Ltd. 6.11.2009

12. M/s JVG Finance Ltd. 25.2.2010

13. M/s PSG Developers & Engineers Ltd. 17.3.2010

5.4.5 Details of progress of investigation as on 31.3.2010, against 22 companies including Six (6) companies which were ordered for investigation during the year under section 235/237(b)/247

of the Companies Act, 1956 by the Central Government under separate orders are given in table 5.4.

47

Table- 5.4

Sl No. Name of Company Date of Order Status1. M/s Systems America (India) Ltd. 17-01-2008 Investigation

under progress2. M/s AVI Telecom Ltd. 05/05/2009 -do-3. M/s AVI Petroleum Ltd. -do- -do-4. M/s AVI Packaging (India) Ltd. -do- -do-5. M/s A&R Oil Mills Ltd. -do- -do-6. M/s Rishi Spinners Ltd. -do-7. M/s Rishi Financial Services Ltd. -do- -do-8. M/s Rishi Oil & Fats Ltd. -do- -do-9. M/s AVI Shoes Ltd. -do- -do-10. M/s Zenet Software Ltd. 15-05-2008 -do-11. M/s Sugandh Estates & Investments Pvt. Ltd. 16-05-2008 -do-12. M/s Amadhi Investments Ltd. -do- -do-13. M/s Welvet Financial Advisors Pvt. Ltd. -do- -do-14 M/s PSG Developers & Engineers Ltd. -do- -do-15. M/s Nicco Uco Alliance Credit Ltd. 05.08.2008 -do-16. M/s Kuber Mutual Benefits Ltd. (in

liquidation)09-09-2008 -do-

17. M/s Megacity (Bangalore) Developers and Builders Ltd.

17.04.2009 -do-

18. M/s AVI Industries Ltd. 13.05.2009 -do-19. M/s Information Technology (India) Ltd. 16.07.2009 -do-20. M/s Sesa Goa Ltd. 23.10.2009 -do-21. M/s Sesa Industries Ltd. 23.10.2009 -do-22. M/s Austral Coke & projects Ltd. (Name

changed as M/s Greenearth Resources & Projects Ltd.)

20.01.2010 -do-

Risk Management Technical Scrutiny under MCA-21

5.4.6 Ministry has implemented e-Governance project under MCA-21 and it has become Mandatory for the companies to file their returns/documents through electronic process under the MCA-21 system. An early warning system

has been developed to detect frauds/possible violations of the Companies Act at infancy stage and based on algorithm, Risk Management Technical Scrutiny has been conducted. Under the system, technical scrutiny of balance sheets in respect of 149 companies was ordered. Reports from ROCs were received in respect of 136 companies.

48

Prosecution

5.5.1 A total of 60303 prosecutions, launched under the Companies Act, were pending in various courts as on 31.3.2009 and 9021 prosecutions (Table 5.5) were instituted during the year 2009-

10 against 3196 companies and their officers. Thus, in all 69324 prosecutions were pursued in the courts during 2009-10. Out of these, 7647 prosecutions were disposed of and 61677 were pending at the end of the year. State-wise details are given in the Statement –XXIV.

Table - 5.5 Nature of Defaults and number of prosecutions

Filed during 2009-10

Sl. No.

Section of the

Companies Act, 1956 or

a Rule

Nature of defaults Number of Casesfiledduring the

year

(1) (2) (3) (4)

1 21 Change of name by company 2

2 22 Rectification name of company 5

3 49 Investments of company to be held in its own name 1

4 58A(1) Acceptance of Deposits 13

5 58A(9) Default in repayment of Deposits 5

6 58AA(9) Intimation to CLB regarding default in repayment of deposits to small Investors

2

7 63 Criminal liability for mis-statements in prospectus 7

8 68 Penalty for fraudulently inducing persons to invest money 6

9 94/95 Non filing of form No. 5 for increase of A/C 1

10 97 Notice of increase of share capital or of members 6

11 143 Company’s register of charges 6

12 146 Registered office of company 46

13 147 Publication of name by company 11

14 149 Restrictions on commencement of business 1

15 150 Register of members 2

16 154 Power to close register of members or debenture holders 21

17 159/162 Annual return to be made by company having a share capital 3818

18 165/168 Statutory meeting and statutory report of company 12

19 166/168 Annual General Meeting 90

49

20 176(2) Notice of AGM was not made with reasonable prominence 221 192 Registration of Certain resolutions and agreements 222 193 Minutes of proceedings of general meetings and of Board and other

meetings14

23 198 Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits

2

24 205A Unpaid dividends to be transferred to special dividend account 225 209A Inspection of books of accounts etc. of companies 1926 209A(5) Powers of the officer making an Inspection 827 209(3)(b) Non-keeping of books on accrual basis 1728 210 Annual Accounts and balance sheets 13429 211 Forms and contents of Balance sheets and profit and loss account 22830 215 Authentication of B/S & P.L. A/C 331 217 Board’s report 8432 219 Right of member to copies of Balance Sheet and auditors report 133 220 Three copies of balance sheet etc. to be filed with Registrar 408934 224 Auditors duty 535 227(3)(d) Compliances of accounting standard 1836 233 Penalty of non-compliance of auditor with sections 227 and 229. 14237 234 Power of Registrar to call for information or explanation 2538 252 Minimum number of Directors 239 257 Right of persons other than retiring directors to stand for

directorship1

40 269 Appointment of managing or whole time director or manager to require Government approval only in certain cases

6

41 274 Disqualification of Directors 242 285 Non meet of Board at least once in every three calendar months 243 292 Certain powers to be exercised by Board only at meeting 1744 293 Restriction on power of Board 245 295 Loans to directors etc. 446 297 Board’s sanction to be required for certain contracts in which particular

directors are interested5

47 299 Disclosure of interests by director 748 300 Interested director not to participate or vote in Boards proceedings 349 301 Register of Contracts, companies and firms in which Directors are

interested 7

50 303 Register of Director’s managing agents, secretaries and measurers etc.

6

51 307 Register of Director’s share holdings etc. 7

50

52 314 Director etc. not to hold office or place of profit 153 372 Purchase of shares by company of other companies 4

54 383A Certain companies to have secretaries 13

55 614A Power of Courts trying offences under the Act to direct the filling of documents with the Registrar

1

56 628 Penalty for false statements 14

57 629 Penalty for false evidence 1

58 629A Penalty where no specific penalty is provided elsewhere in the Act 4

59 Rule X Non filing of returns in form annex to rule 10 4

60 Others 58

Total 9021

5.5.2 Comparative data showing the progress of prosecutions during the last five

years from 2005-06 to 2009-10 is given in Table 5.6.

Table 5.6 Progress of Prosecutions: 2005-06 to 2009-10

Sl. No.

Subject 2005-06 2006-07 2007-08 2008-09 2009-10

(1) (2) (3) (4) (5) (6) (7)

1 Number of companies prosecuted during the year 1265 2668 2140 3616 3196

2 Number of prosecutions started during the year 5128 10601 17080 13971 9021

3 Number of prosecutions pending at the beginning of the year

49061 45705 46837 54294 60303

4 Number of prosecutions disposed during the year 8484 8509 6993 10506 7647

5 Convictions 2686 2273 4272 3751 3716

6 Number of prosecutions ending in acquittals 185 310 226 165 417

7 Number of prosecutions withdrawn or otherwise disposed of (including condonations)

1763 4576 2495 2540 3050

8 Number of prosecutions pending at the end of the year 45705 47797 54422 57759 61677

9 Total fine imposed ( in rupees) 7159012 5814261 11184020 11058647 9230317

10 Total amount awarded as cost to Registrar (in rupees) 2140825 2729661 3080607 3234539 2901472

11 Percentage of conviction to total cases decided 32 27 61 36 49

12 Average number of prosecutions per company prosecuted 7 3 3 3 2.4

13 Average fine imposed per case ending in conviction (in Rs.)

2665.3 2557.97 2617.98 2948.18 2483.94

51

Oppression and Mismanagement

5.6 One application under section 399(4) of the Companies Act, 1956 was pending at the end of year 2008-09 relating to request and seeking authorisation for filing petitions for prevention of oppression and mismanagement and the same is still pending. No new application as been received during 2009-10.

Cost Audit

5.7.1 In exercise of the powers conferred by sub-section (1) of Section 642 read with clause (d) of sub-section (1) of Section 209 of the Companies Act, 1956, the Central Government notifies the Cost Accounting Records Rules (CARRs) from time to time with respect to various industries and products. All companies engaged in production, processing, manufacturing or mining activities, in respect of industries or products specified in the Cost Accounting Record Rules, as applicable, are required to keep at its registered office proper books of account relating to utilisation of material or labour or to other items of cost as prescribed under the said Rules. Every company covered under these Rules shall maintain cost accounting records from the financial year on or after the publication of these Rules. These rules do not apply to a company:

a) wherein, the aggregate value of machinery and plant installed as on the last date of the preceding financial year, does not exceed the limit as specified for a small scale industrial undertaking under the provisions of Industries (Development and Regulation) Act, 1951 (65 of 1951); and

b) the aggregate value of the turnover made by the company from sale or

supply of all its products or activities during the preceding financial year does not exceed ten crore of rupees.

5.7.2 The Cost Accounting Record Rules (CARRs) prescribe the manner in which cost records are to be maintained so as to have cost data base to be primarily utilized by industries/companies themselves to improve upon their performance and face competitive environment and also by various Government agencies like, price-fixation authorities, regulatory bodies, WTO implementation & monitoring agencies, Competition Commission of India (CCI), revenue authorities, and other institutions for meeting their respective objectives. Cost Accounting Records Rules have so far been notified in respect of 44 industries as indicated in Table 5.7.

5.7.3 Under sub section (1) of section 233B of the Companies Act, 1956, cost audit orders are issued on eligible companies, from time to time, to get their cost records audited by a practicing Cost Accountant, in accordance to the Cost Audit Report Rules, 2001. Such orders are also issued on companies arising out of mergers, de-mergers, amalgamations, sale/transfer, change of name, etc. During the period from April, 2009 to March, 2010, cost audit orders were issued on 15 companies.

5.7.4 Consequent upon the launch of MCA-21 Project under the e-Governance, companies under cost audit have started filing applications for appointment of cost auditors, through electronic mode from April, 2006. In compliance with Section 233(B) (2) of the Companies Act, 1956, 1656 applications were received through e-mode for approval of appointment of cost auditors during the period from April, 2009 to March, 2010. Online approval process resulted in reduction of processing time benefiting the

52

Government as well as the applicant companies significantly. The companies find it very useful as they can check the status of their applications and take the print outs of the approvals online without waiting for letter of approval from this office. Cost involving dispatch time, postage stamps and replies to queries from the companies has been saved.

5.7.5 Similarly, companies/cost auditors have also started filing the cost audit reports through electronic mode from April, 2006. This has dispensed with the requirement of wide space in the form of record rooms for keeping hard and soft copies of the reports as were received earlier. It has also ensured proper safety of confidential information of concerned companies. The numbers of cost audit reports received during April 2009 to March, 2010 were 3080.

5.7.6 The exemption from cost audit orders is granted, on year-to-year basis, in situations arising out of temporary closure of the company and/or its manufacturing facilities, negligible production/ activity, etc. Similarly, withdrawal of cost audit orders is considered in case of permanent closure or sale or merger/amalgamation of production activities for the product under reference. During the period from April 2009 to March, 2010, 17 such cases of exemption/withdrawal were received and processed.

5.7.7 During the year 2009-10, 56 cost audit reports filed by the companies were shared with various user departments such as, Anti-dumping Directorate of the Ministry of Commerce & Industries, Tariff Commission, National Pharmaceuticals Pricing Authority, and Competition Commission of India, etc.

Table 5.7 IndustriesinwhichCostAccountingRecordRulesnotified

under Section 209(1)(d) of the Companies Act, 1956.

S. No. Name of the Industries S. No. Name of the Industries

1. Aluminum 12. Electric fans2. Batteries-other than Dry Cell Batteries 13. Electricity Industry3. Bearings 14. Electric Lamps4. Bulk Drugs 15. Electric Motors5. Cement 16. Electronic Products6. Chemicals 17. Engineering Industries7. Cosmetic & Toiletries 18. Fertilizers8. Cycle 19. Footwear9. Dry Cell batteries 20. Formulations10. Dyes 21. Industrial Alcohol11. Electric Cables and Conductors 22. Industrial Gases

53

S. No. Name of the Industries S. No. Name of the Industries23. Insecticides 34. Refrigerators24. Jute goods 35. Room Air conditioners25. Milk food 36. Shaving Systems26. Mining and metallurgy 37. Soaps and Detergents27. Motor vehicles 38. Steel Plants28. Nylon 39. Steel tubes & pipes29. Paper 40. Sugar30. Petroleum Industry 41. Telecommunications31. Plantation Products 42. Textiles32. Polyester 43. Tyres and Tubes33. Rayon 44. Vanaspati

Investor Education and Protection Fund (IEPF)

5.8.1 The Ministry of Corporate Affairs has established the Investor Education and Protection Fund (IEPF) under the provisions of Section 205C of the Companies Act, 1956 with the objectives of promoting investor awareness and protection of their interests. Under this initiative, the Ministry while promoting the concept of prudent & informed investment decision making, also provides services related to making available informational and educational content for investors, investor grievance redressal and technical/ financial assistance to organizations engaged in investor education activities. The activities undertaken through the aegis of IEPF include the following:-

Providing (simple user friendly) educational and awareness content to all the investors through the website www.iepf.gov.in.

Providing the material Registry of economic offenders through the

website www.watchutinvestors.com which covers all entities who have been found to be guilty under different economic laws of the country.

Providing online investor grievance redressal facility through the website www.investorhelpline.com.

Undertaking investor awareness programmes in partnership with Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost and Works Accountants of India (ICWAI) specifically targeting investors in tier II and tier III cities.

Providing technical/ financial assistance to voluntary organaizations for undertaking investor awareness related activities.

Undertaking multi-lingual media campaigns to reach out to investor across the country.

54

5.8.2 During the year 2009-10, investors’ awareness programmes were organized at 238 locations by ICSI,ICAI and ICWAI.

5.8.3 The number of registered NGO’s under IEPF have increased from 69 to 106 upto 31st March, 2010.

5.8.4 Series of advertisements on investor education and awareness were issued in national as well as regional language newspapers in the month of December, 2009.

5.8.5 In order to reach out to the large majority of Hindi speaking people in the country, the Ministry launched its website www.iepf.gov.in in Hindi on 26th March, 2010. This will help large number of investors to understand their right and responsibilities while making investment decisions.

Investor Grievance Management Cell

5.9.1 Investor Grievance Management Cell (IGMC), renamed from earlier Investor Protection Cell (IPC), of the Ministry of Corporate Affairs, was set up in 1993 to deal with investors’ grievances. Its function is to take up the grievances of investors’ through the jurisdictional Registrars of Companies. It also coordinates with the Reserve Bank of India, Department of Economic Affairs and the Securities and Exchange Board of India for redressal of Investrors’ complaints received in this Ministry but pertaining to those agencies. Broadly, the complaints relate to the following issues.

1. Non- receipt of annual report

2. Non- receipt of dividend amount

3. Non- refund of application money

4. Non- payment of matured deposits and interest thereon

5. Non- receipt of duplicate shares

6. Non- registration of transfer of shares

7. Non- issue of share certificates

8. Non- receipt of debenture certificates

9. Non- issue of rights bonus shares

10. Non- issue of interest on late payment

11. Non- redemption of debentures and interest thereon

12. Non- receipt of share certificates on conversion

5.9.2 The investor/depositors can lodge their complaints with concerned Registrar of Companies on-line through MCA-21 program using the website of the Ministry viz. www.mca.gov.in. The system acknowledges the receipt of complaint online by generating a complaint number which can be used for future follow up of the complaint.

5.9.3 In order to actively associate the field offices in investor grievances redressal function, a nodal team headed by a designated officer has been set up in all offices of Regional Directors and Registrars of Companies as well as at Headquarters in the Ministry. The investors may take up their grievances with the concerned Nodal Officers at the Regional Level. If any investor has any grievance which is yet to be redressed even after a lapse of reasonable time, the same may be brought to the notice of Nodal Officer at the Ministry Level.

55

5.9.4 A website namely www.investorhelpline.in has been sponsored and launched in September, 2006 under Investor Education and Protection Fund and created by Midas Touch Investor Association (NGO) to provide a mechanism for redressal of grievances of investors free of cost. It provides a facility to the investors to lodge their grievance on the website. It acts as an intermediary between investors and companies, stock exchanges, and other authorities. It also educates investors about their lawful right under various acts and the procedure to get them enforced.

5.9.5 Beside, a Website www.watchoutinvestors.com has been created by Prime Investors Protection Association and League, with the financial assistance from the Investor Education and Protection Fund, to help the investors protect themselves from unscrupulous promoters, companies and entities. The website is a national registry of economic defaulters and covers information on conviction by various regulatory bodies.

Vanishing Companies

5.10.1 A Central coordination and Monitoring Committee (CMC), co-chaired by Secretary, Ministry of Corporate Affairs and Chairman, SEBI has been set up to look into issues relating

to companies that had come out with public issue and vanished and to monitor the progress of action taken against them. Specific criteria have been adopted by CMC for identification of such vanishing companies.

5.10.2 Out of the companies that came out with the IPOs during 1992-2005, a total of 238 companies were identified as vanishing companies. With the continuous efforts of the Ministry, 119 companies have been traced back, resulting in the number of vanishing companies being reduced to 119. CMC in its meeting held on 8.3.2010 has decided to delete the names of vanishing companies under liquidation from the list of vanishing companies as the regulatory action against such companies lies within the jurisdiction of High Courts. There were 32 vanishing companies under liquidation on the date of aforesaid meeting, resulting in the number of vanishing companies being reduced to 87. Hence, it may be appreciated that the instrument of setting up of the CMC and its functioning has been successful in effectively controlling the phenomenon of vanishing companies.

5.10.3 The Ministry is making all efforts to ensure that the complaints filed against the vanishing companies and its promoters/directors under the various provisions of the Companies Act, 1956 and under IPC, are taken to their logical conclusion at different forums.

56

Applications received & disposed of by OfficialLiquidators

6.1 6155 companies were under liquidation as on 31.03.2009 and 225 companies were taken into liquidation from 01.04.2009 to 31.03.2010.

After taking into account 261 companies finally wound up, the total numbers of companies under liquidation as on 31.03.2010 were 6119. The distribution of companies in liquidation by their mode of winding up from 01.04.2009 to 31.03.2010 is given in table 6.1:-

CHAPTER – VI

Liquidation of Companies

Table 6.1

Cases regarding Winding up/Liquidation

Sl. No.

Subject / Mode Pending as on

31.3.2009

Received during

the period 1.4.2009 to 31.03.2010

Total Col-

(3)+(4)

Disposed of during the period 1.4.2009 to 31.03.2010

Pending as on

31.03.2010 Col- (5)-(6)

(1) (2) (3) (4) (5) (6) (7)1. Members Voluntary

winding up1282 81 1363 132 1231

2. Creditors Voluntary winding up

112 4 116 16 100

3. Winding up by Court

4758 140 4898 113 4785

4 Winding up subject to supervision of Court.

03 0 03 0 03

Total 6155 225 6380 261 6119

57

Resources Raised by Corporate Sector

7.1.1 During the period 2005-06 to 2009-10, resources raised through equity issues increased considerably i.e from Rs. 27372 Crore in 2005-06 to Rs. 55055 crore in 2009 -10 (an increase of Rs. 27683 crore). Resources mobilized through Public and Rights Issue of Debt Issues increased to Rs. 2500 crore in 2009-10 as per provisional estimates, as against Rs. 1500 crore in 2008-09. However, resources raised through Public and Rights Issue of Debt Issues is fluctuating very much from only Rs. 10 crore in 2005-06 to a high of 7290 crore in 2007-08. Resources mobilized through Private placement of Debt Issues increased from Rs. 96473 in 2005-06 to Rs.212725 crore in 2007-08 (i.e an increase of Rs. 116252 crore)

indicating an increasing preference for Private Placement of Debt Issues. However, the same resources decreased to Rs.202745 in the year 2008-09 from Rs. 212725 crore in the year 2007-08. As per provisional estimates, the resources mobilized through Private Placement increased to Rs. 212635 crore in 2009-10 from Rs. 202745 crore in the previous year. In aggregate, there is an increase in the total resource mobilization by Corporate Sector to the extent of Rs.51673 crore in the year 2009-10 as per provisional estimates, as compared to previous year comprising of an increase of Rs.40783 crore in equity issues and balance of Rs.10890 crore in debt issues. Resources raised by corporate sector during the last five years from 2005-06 to 2009-10 is given in Table 7.1.

CHAPTER - VII

Mobilization of funds through various sources by the corporate sector

Table 7.1 Resources Raised by Corporate Sector

(Rs. crore)Year Equity Issues* Debt Issues Total Resource

Mobilisation (Col. 2+3+4)

Public and Right Issues

Private Placements **

(1) (2) (3) (4) (5)2005-06 27372 10 96473 1238552006-07 32901 605 145571 1790782007-08 79739 7290 212725 2997542008-09 14272 1500 202745 218517

2009-10(P) 55055 2500 212635# 270190

P: Provisional * Includes CCPS and Offer for Sale. ** Includes negligible amount of equity. # The data pertains to listed (BSE+NSE) Corporate Debt Issues which are privately placed and accordingly the data is computed for the year 2009-10. Source: RBI, SEBI.

58

7.1.2 Resources mobilized through new capital issues by Non-Government Public Ltd Companies has increased from Rs.10264 crore in 2005-06 to Rs. 37088 crore in 2007-08 ( i.e an increase by Rs.26824 crore). However, the resources mobilized through new Capital Issues drastically decreased to Rs. 2033 crore in the

Graph 7.1

year 2008-09. As per provisional estimates, the resources mobilized through new Capital Issues increased to Rs. 14595 crore in 2009-10 from Rs. 2033 crore in the previous year. Resources mobilized through new Capital Issues during the last five years from 2005-06 to 2009-10 is given in Table 7.2.

Table 7.2 New Capital Issues by Non-Government Public Limited Companies

(Rs. crore)

Year Total No. of Issues Amount No. of New Issues Amount(1) (2) (3) (4) (5)

2005-06 131 21154 77 102642006-07 117 30603 72 256622007-08 115 63638 80 370882008-09 45 14671 21 2033

2009-10(P) 68 25479 36 14595

P: Provisional Source: RBI

59

7.1.3 Resource mobilization from Primary market increased from Rs. 27382 crore in 2005-06 to Rs.87029 crore in 2007-08 (i.e an increase of Rs. 59647 crore). However, resources mobilized from Primary market reduced to Rs.16220 crore in the year 2008-09 from Rs. 87029 crore in the previous year (a reduction of Rs. 70809 crore). As per provisional estimates, the resources mobilized

from Primary market increased to Rs. 57555 crore in 2009-10 from Rs. 16220 crore in the previous year. The resources mobilized through public and the existing (i.e Rights Issues) shareholders of the companies also increased from Rs. 23294 crore in 2005-06 to Rs 54511 crore in 2007-08 for Public Issues and from Rs. 4088 crore in 2005-06 to Rs. 32518 crore in 2007-08 under

Graph 7.2(i)

Graph 7.2(ii)

60

Rights Issues. However, it may be observed that resources mobilized through Public Issue reduced to Rs. 3582 crore in 2008-09 from Rs. 54511 crore in the previous year (reduction of Rs.50929 crore) while resources mobilized through Rights Issue reduced to Rs. 12637 crore from Rs. 32,518 crore in the previous year (reduction of Rs. 19881 crore). As per provisional estimates, the resources mobilized through Public Issue increased to Rs 49236 crore in 2009-10 from 3582 in the previous year while resources mobilized through Rights Issue further decreased to Rs. 8319 in 2009-10 from Rs. 12637 crore in the previous year. It may be observed that in the year 2008-09, number of issues by the listed companies declined and actual resource mobilization also declined considerably as compared to the previous year. Similarly, resources mobilised through Initial Public Offers (IPOs) also declined considerably in the year 2008-09 as compared to the previous year. However, as per provisional estimates,

the number of issues by the listed companies increased to 34 and resource mobilization also increased to Rs. 30359 crore in 2009-10 from 25 numbers of issues and resource mobilization of Rs. 12637 crore in the previous year. Similarly, the number of Initial Public Offers (IPOs) increased to 39 and resource mobilization also increased to Rs. 24696 crore in 2009-10 from 21 numbers of IPOs and resource mobilization of Rs. 2082 crore in the previous year. During the five year period from 2005-06 to 2009-10, while the number of equity issues at premium decreased by 57, the amount raised through Equity Issues at premium increased by Rs. 27866 crore. However, during the same period, the number and amount of resources mobilized through equity issues at par decreased by 9 and Rs. 363 crore respectively. Resources mobilized from primary market during the last five years from 2005-06 to 2009-10 is given in Table 7.3.

Table 7.3 Resources Mobilized from Primary Market

(Rs. crore)

Year Total No of Issues

Category-wise Issuer Type Equities

(1) (2) (3) (4) (5)

Public Issue 3(a)

Rights Issue 3(b)

Listed 4(a) IPOs 4(b) At Par 5(a) At Premium 5(b)

No Amt No Amt No Amt No Amt No Amt No Amt No Amt

2005-06 139 27382 103 23294 36 4088 60 16446 79 10936 10 372 128 27000

2006-07 124 33508 85 29796 39 3710 47 5002 77 28504 2 12 119 32889

2007-08 124 87029 92 54511 32 32518 39 44434 85 42595 7 387 113 79352

2008-09 47 16220 22 3582 25 12637 25 12637 21 2082 5 96 40 14176

2009-10(P) 76 57555 47 49236 29 8319 34 30359 39 24696 1 9 71 54866

Note:- Instrument-wise break-up may not tally to the total number of issues, as for one issue there could be more than one instrument.

P : Provisional

Source: SEBI

61

7.1.4 Industry wise Classification of Capital raised during the last three years from 2007-08 to 2009-10 is given in Table 7.4. It may be observed that resources raised by Banking Industry/FI in 2009-10 increased to Rs. 639 crore as compared to Rs. Zero in the previous year. Resources raised

Graph 7.3 (i)

Graph 7.3 (ii)

by Cement & Construction Industries in 2009-10 increased by Rs. 2700 crore as compared to 2008-09 and in Power Industry resources raised in 2009-10 increased by Rs. 24335 crore as compared to 2008-09. Telecommunication Industry could not raise any resouces in 2009-10

62

as against Rs. 100 crore raised in the previous year. With the exception of Chemicals, Printing, Telecommunication and Textiles Industries there

was increase in resource mobilization in all other Industries in 2009-10 as compared to previous year.

Table 7.4 IndustrywiseClassificationofCapitalRaised

(Rs. crore)

Sl.No. Industry 2007-08 2008-09 2009-10

(1) (2) (3) (4) (5)

No. Amount No. Amount No. Amount

1. Banking/FIs 6 30955 0 0 3 639

2. Cement & Construction

27 18905 3 80 8 2780

3. Chemical 8 661 4 218 1 36

4. Electronics 4 684 0 0 1 1156

5. Engineering 5 378 0 0 1 50

6. Entertainment 2 403 2 1156 9 2461

7. Finance 7 1773 2 466 2 1826

8. Food Processing 2 100 0 0 2 443

9. Healthcare 3 542 3 144 3 1059

10. Information Technology

10 691 1 42 6 540

11. Paper & Pulp 1 35 0 0 1 35

12. Plastic 5 211 0 0 1 39

13. Power 4 13709 2 958 6 25293

14. Printing 0 0 0 0 0 0

15. Telecommunication 2 1000 2 100 0 0

16. Textiles 7 442 5 710 3 237

17. Others 31 16541 22 10845 26 18461

Total 124 87030 46 14719 73 55055

Source: SEBI

63

7.1.5 Size-wise Classification of Capital raised during the last five years from 2005-06 to 2009-10 is given in Table 7.5. Higher resource mobilization is observed for large issues. An amount of Rs 84418 crore was collected by the companies through issue size exceeding Rs.100 crore during 2007-08 as against Rs. 23815 crore was raised

Graph 7.4(i)

Graph 7.4(ii)

during 2005-06 under the same category. Capital raised through issue size exceeding Rs. 100 crore drastically decreased to Rs. 13756 crore in 2008-09. However, capital raised through issue size exceeding Rs. 100 crore increased to Rs. 53798 crore in 2009-10. Amount raised through issue size of Rs.10 crore-<50 crore and Rs.50 crore-

64

<100 crore during the period 2007-08 were Rs. 920 crore and 1669 crore respectively. Amount raised through issue size of Rs.10 crore-<50crore and Rs.50 crore-<100 crore during the year 2008-09 decreased to Rs. 509 core and Rs. 445 crore respectively. However, during the year 2009-10 amount raised through issue size of Rs.10 crore-<50 crore and Rs.50 crore-<100 crore slightly

increased to Rs. 596 crore and Rs. 636 crore respectively in comparision to the previous year. It may be observed that small sized issues are not encouraging as in 2009-10 there was only 1 issue by companies in the category of less than Rs 5 crore and 3 issues in the category of Rs. 5 crore-<Rs. 10 crore.

Table 7.5 Size-wiseClassificationofCapitalRaised

(Rs. crore)

Year Total <5cr <5cr-<10cr 10cr-<50cr 50cr-<100cr >100cr.

(1) (2) (3) (4) (5) (6) (7)

No Amt.* No Amt.* No Amt.* No Amt.* NO Amt.* No Amt.*

2005-06 136 27382 6 20 4 32 47 1325 33 2189 49 23815

2006-07 124 33508 3 10 6 45 40 1129 31 2386 44 29938

2007-08 124 87029 4 16 1 6 33 920 25 1669 61 84418

2008-09 46 14720 1 3 1 7 21 509 6 445 17 13756

2009-10 73 55055 1 2 3 23 18 596 9 636 42 53798

Source: SEBI

Amt.*= Amount

Graph 7.5 (i)

65

7.1.6 Sector-wise and Region–wise distribution of Capital Mobilized during the last five years from 2005-06 to 2009-10 is given in Table 7.6. It is observed that during the year 2009-10, there is significant increase in resources mobilized by both the Private Sector and Public Sector by Rs 40335 crore comprising of Rs. 9218 in the Private Sector and Rs. 31117 crore in the Public sector. Regarding the increase in resources mobilized by various regions, the highest increase is observed for Northern Region (NR) (i.e. Rs. 23312 crore) followed by Southern Region (SR) (Rs. 9070

crore), Western Region (WR) (Rs. 4094 crores) and in Eastern Region (ER) (Rs. 3860 crore). About 44.9% of the resource mobilization is from Northern Region (NR) followed by Western Region (WR) (27.8%), Southern Region (SR) (19.7%) and the balance of 7.6% by Eastern Region (ER). It may also be observed that in the year 2009-10, the share of Public Sector in the total resource mobilization has been 56.5% where as there was no mobilization of resources from Public Sector in the previous year.

Graph 7.5 (ii)

Table 7.6 Sector-wise and Region –wise Distribution of Capital Mobilized

(Rs. crore)

Year Total Sector-wise Region -wise(1) (2) (3) (4)

Private 3(a)

Public 3(b)

Northern 4(a)

Eastern 4(b)

Western 4( c )

Southern 4(d)

No Amt.* No Amt.* No Amt.* No Amt.* No Amt* No Amt.* No Amt.*2005-06 139 27382 131 20199 8 7183 30 5389 13 1495 56 14963 40 5535

2006-07 124 33508 122 31728 2 1779 28 3673 5 165 55 22964 36 67062007-08 124 87029 120 67311 4 19718 22 16526 11 1093 55 64139 36 5270 2008-09 46 14720 46 14720 0 0 5 1402 5 315 21 11202 15 1800 2009-10 73 55055 67 23938 6 31117 17 24714 10 4175 35 15296 11 10870

Amt.*= Amount

Source: SEBI

66

Graph 7.6 (i)

Graph 7.6 (ii)

Graph 7.6 (iii)

67

7.1.7 Foreign Investment Inflows in India during the years from 2005-06 to 2009-10 is

Graph 7.6 (iv)

given in Table 7.7.

Table 7.7 ForeignInvestmentInflows

Year Total (A+B) A. Direct Investment B. Portfolio Investment

(Rs.Crore) (US $ Million)

(Rs.Crore) (US $ Million)

(Rs.Crore) (US $ Million)

(1) (2) (3) (4) (5) (6) (7)2005-06 94981 21453 39674 8961 55307 124922006-07 135080 29829 103367 22826 31713 70032007-08 249921 62106 140180 34835 109741 272712008-09(P) 97918 21325 161536 35180 (-)63618 (-)138552009-10(P) 329815 69557 176304 37182 153511 32375

P: Provisional

Note:- 1. Data include acquisition of shares of Indian Companies by non-residents under section 6 of FEMA, 1999. Data on such acquisitions are included as part of FDI since January, 1996.

2. Data on FDI have been revised since 2000-01 with expanded coverage to approach international best practices.

3. Negative (-) sign indicates outflow.

4. Direct investment data for 2006-07 include swap of shares of 3.1 billion.

Source: RBI

68

Graph 7.7

7.1.8 Trends in FII Investment in India during the years from 2005-06 to 2009-10(P)

is given in Table 7.8.

Table 7.8 Trends in Foreign Institutional Investors Investment

Year Gross Purchases (Rs. Crore)

Gross Sales (Rs. Crore)

Net Investment (Rs.Crore)

Net investment* (US $ mn.)

Cumulative Net Investment* (US $ mn.)

(1) (2) (3) (4) (5) (6)

2005-06 346976 305509 41467 9363 45657

2006-07 520506 489665 30841 6821 52477

2007-08 948018 881839 66179 16442 68919

2008-09 614579 660389 (-)45811 (-)9837 59081

2009-10(P) 846437 703779 142658 30252 89333

P: Provisional

*Conversion rate is daily RBI reference rate.

Source: SEBI

69

Graph 7.8

70

8.1.1 Corporate sector today is one of the major driving forces of economic development of the country. The growing importance of corporate sector demands greater transparency and availability of corporate data in terms of comprehensiveness, reliability and timeliness. The corporate sector is studied for various aspects like its size and composition, growth & restructuring and financial performance focusing on capital structure, profitability measures and debt repayment capacity to ascertain financial vulnerability of Indian companies. It is also studied to assess the impact of regulatory framework which enables to introduce further reforms in regulation of companies. Further, the growth potential of a country is measured through the estimates of gross domestic saving and investment. The estimate of Gross Domestic Saving (GDS) for the Indian economy is compiled for three major institutional sectors viz., public sector, private corporate sector and household sector wherein the contribution of private corporate sector was 15 to 17 percent during the tenth plan period.

8.1.2 With the launch of MCA21, the e-governance programme of the Ministry, a huge data repository has been created as a by product of the services provided by the Ministry. A major drive has been taken up to clean, correct and validate the database which has been built up progressively due to e-filing being mandated and transfer of legacy documents forming a part of

electronic registry. Having overcome the initial problems of making the e-governance system operational, the focus of the Ministry is now on the data management, mining and its value exploitation by way of introduction of value added series.

8.1.3 As an initial step in this direction, the paid up capital, one of the important and extensively used population parameter of the sector in estimating other financial indicators, has been compiled using the MCA21 data repository.

Methodology

8.2 All companies limited by shares registered under Companies Act, 1956 are required to file their Annual Returns under section 159 and Balance Sheet under Section 220 of the Companies Act. Since the launch of MCA21 and e-filing having been mandated these documents are filed electronically. The financial parameters contained in these documents are captured from the relevant documents and accompanying attachments. To estimate Paid up capital for 2009-10, data of 640842 companies, as available in the electronic registry, was consolidated and aggregated at state as well as industrial activity level. The aggregation is done separately for both public and private companies within government and non government categories. The detailed tables are shown in Statements XII to XXIII.

CHAPTER - VIII

Financial Aggregates of Corporate Sector

APPENDIXSTATISTICAL STATEMENTS

(I TO XXIV)

73

STATEMENT - I Registration of New Companies Limited by Shares during 2009-10:

(Region/State-wise Distributiton)(Rs. crore)

Region/State No. of Companies Authorised CapitalPublic

LimitedPrivate Limited

Total Public Limited

Private Limited

Total

(1) (2) (3) (4) (5) (6) (7)NORTHERN REGIONHARYANA 40 1287 1327 135.97 377.67 513.64HIMACHAL PRADESH 4 249 253 55.08 25.17 80.25JAMMU & KASHMIR 1 135 136 0.05 42.57 42.62PUNJAB 56 970 1026 50.36 160.54 210.9RAJASTHAN 85 2703 2788 115.67 202.69 318.36UTTAR PRADESH 112 2813 2925 782.16 381.85 1164.01UTTRAKHAND 6 286 292 3.06 57.33 60.39CHANDIGARH 19 528 547 17.40 108.18 125.58DELHI 295 11445 11740 1143.56 2964.83 4108.39

Total 618 20416 21034 2303.31 4320.83 6624.14EASTERN REGIONARUNACHAL PRADESH 5 25 30 16.10 34.42 50.52ASSAM 57 806 863 13.13 139.38 152.51BIHAR 33 1053 1086 339.60 115.24 454.84JHARKHAND 8 531 539 213.75 119.87 333.62MANIPUR 1 12 13 230.00 2.02 232.02MEGHALAYA 13 34 47 3317.95 7.42 3325.37MIZORAM 0 3 3 0.00 0.20 0.20NAGALAND 0 12 12 0.00 13.53 13.53ORISSA 66 1006 1072 172.51 284.01 456.52TRIPURA 3 28 31 1.10 23.42 24.52WEST BENGAL 331 9815 10146 833.83 1488.31 2322.14

Total 517 13325 13842 5137.97 2227.82 7365.79WESTERN REGIONCHHATISGARH 38 527 565 28.81 135.92 164.73GUJARAT 102 3426 3528 683.89 1117.25 1801.14MADHYA PRADESH 91 1428 1519 65.66 230.39 296.05MAHARASHTRA 350 11719 12069 8864.61 3909.85 12774.46DADRA & N HAVELI 2 24 26 70.00 1.54 71.54DAMAN & DIU 1 8 9 0.05 31.79 31.84GOA 5 281 286 22.15 219.95 242.10

Total 589 17413 18002 9735.17 5646.69 15381.86SOUTHERN REGIONA & N ISLAND 0 25 25 0.00 2.38 2.38ANDHRA PRADESH 90 4374 4464 143.44 1061.91 1205.35KARNATAKA 36 3499 3535 2042.71 832.92 2875.63KERALA 45 1713 1758 1133.36 232.84 1366.20TAMIL NADU 136 4610 4746 5464.53 1492.94 6957.47PUDUCHERRY 0 160 160 0.00 17.93 17.93LAKSHDWEEP 0 4 4 0.00 0.08 0.08

Total 307 14385 14692 8784.04 3641.00 12425.04Grand Total 2031 65539 67570 25960.49 15836.34 41796.83

74

STATEMENT- II Registration of New Government Companies Limited by Shares during 2009-10:

(Region/State-wise Distribution)(Rs. crore)

Region/State No. of Companies Authorised CapitalPublic

LimitedPrivate Limited

Total Public Limited

Private Limited

Total

(1) (2) (3) (4) (5) (6) (7)NORTHERN REGIONHARYANA 0 0 0 0.00 0.00 0.00HIMACHAL PRADESH 0 1 1 0.00 5.00 5.00JAMMU & KASHMIR 0 0 0 0.00 0.00 0.00PUNJAB 0 1 1 0.00 0.50 0.50RAJASTHAN 5 0 5 100.20 0.00 100.20UTTAR PRADESH 5 0 5 639.00 0.00 639.00UTTRAKHAND 0 0 0 0.00 0.00 0.00CHANDIGARH 0 1 1 0.00 20.00 20.00DELHI 8 0 8 10.80 0.00 10.80

Total 18 3 21 750.00 25.50 775.50EASTERN REGIONARUNACHAL PRADESH 0 0 0 0.00 0.00 0.00ASSAM 1 0 1 0.05 0.00 0.05BIHAR 3 0 3 330.00 0.00 330.00JHARKHAND 1 0 1 10.00 0.00 10.00MANIPUR 1 0 1 230.00 0.00 230.00MEGHALAYA 4 0 4 3300.00 0.00 3300.00MIZORAM 0 0 0 0.00 0.00 0.00NAGALAND 0 0 0 0.00 0.00 0.00ORISSA 0 1 1 0.00 0.05 0.05TRIPURA 0 2 2 0.00 20.00 20.00WEST BENGAL 2 0 2 105.00 0.00 105.00

Total 12 3 15 3975.05 20.05 3995.10WESTERN REGIONCHHATISGARH 0 0 0 0.00 0.00 0.00GUJARAT 3 0 3 202.10 0.00 202.10MADHYA PRADESH 1 8 9 0.15 75.00 75.15MAHARASHTRA 3 1 4 5.15 1.00 6.15DADRA & N HAVELI 0 0 0 0.00 0.00 0.00DAMAN & DIU 0 0 0 0.00 0.00 0.00GOA 0 0 0 0.00 0.00 0.00

Total 7 9 16 207.40 76.00 283.40SOUTHERN REGIONA & N ISLAND 0 0 0 0.00 0.00 0.00ANDHRA PRADESH 0 2 2 0.00 10.00 10.00KARNATAKA 1 1 2 0.25 0.00 0.25KERALA 0 2 2 0.00 2.00 2.00TAMIL NADU 3 0 3 15.00 0.00 15.00PUDUCHERRY 0 0 0 0.00 0.00 0.00LAKSHDWEEP 0 0 0 0.00 0.00 0.00

Total 4 5 9 15.25 12.00 27.25Grand Total 41 20 61 4947.70 133.55 5081.25

75

STATEMENT - III Registration of New Non-Government Companies Limited by Shares during 2009-10:

(Region/State-wise Distribution)(Rs. crore)

Region/State No. of Companies Authorised CapitalPublic

LimitedPrivate Limited

Total Public Limited

Private Limited

Total

(1) (2) (3) (4) (5) (6) (7)NORTHERN REGIONHARYANA 40 1287 1327 135.97 377.67 513.64HIMACHAL PRADESH 4 248 252 55.08 20.17 75.25JAMMU & KASHMIR 1 135 136 0.05 42.57 42.62PUNJAB 56 969 1025 50.36 160.04 210.40RAJASTHAN 80 2703 2783 15.47 202.69 218.16UTTAR PRADESH 107 2813 2920 143.16 381.85 525.01UTTRAKHAND 6 286 292 3.06 57.33 60.39CHANDIGARH 19 527 546 17.40 88.18 105.58DELHI 287 11445 11732 1132.76 2964.83 4097.59

Total 600 20413 21013 1553.31 4295.33 5848.64EASTERN REGIONARUNACHAL PRADESH 5 25 30 16.10 34.42 50.52ASSAM 56 806 862 13.08 139.38 152.46BIHAR 30 1053 1083 9.60 115.24 124.84JHARKHAND 7 531 538 203.75 119.87 323.62MANIPUR 0 12 12 0.00 2.02 2.02MEGHALAYA 9 34 43 17.95 7.42 25.37MIZORAM 0 3 3 0.00 0.20 0.20NAGALAND 0 12 12 0.00 13.53 13.53ORISSA 66 1005 1071 172.51 283.96 456.47TRIPURA 3 26 29 1.10 3.42 4.52WEST BENGAL 329 9815 10144 728.83 1488.31 2217.14

Total 505 13322 13827 1162.92 2207.77 3370.69WESTERN REGIONCHHATISGARH 38 527 565 28.81 135.92 164.73GUJARAT 99 3426 3525 481.79 1117.25 1599.04MADHYA PRADESH 90 1420 1510 65.51 155.39 220.90MAHARASHTRA 347 11718 12065 8859.46 3908.85 12768.31DADRA & N HAVELI 2 24 26 70.00 1.54 71.54DAMAN & DIU 1 8 9 0.05 31.79 31.84GOA 5 281 286 22.15 219.95 242.10

Total 582 17404 17986 9527.77 5570.69 15098.46SOUTHERN REGIONA & N ISLAND 0 25 25 0.00 2.38 2.38ANDHRA PRADESH 90 4372 4462 143.44 1051.91 1195.35KARNATAKA 35 3498 3533 2042.46 832.92 2875.38KERALA 45 1711 1756 1133.36 230.84 1364.20TAMIL NADU 133 4610 4743 5449.53 1492.94 6942.47PUDUCHERRY 0 160 160 0.00 17.93 17.93LAKSHDWEEP 0 4 4 0.00 0.08 0.08

Total 303 14380 14683 8768.79 3629.00 12397.79Grand Total 1990 65519 67509 21012.79 15702.79 36715.58

76

STATEMENT - IV Non-Government Companies which ceased working:

(both liquidated and struck-off during 2009-10): (Region/State-wise Distribution)

(Rs. crore)Region/State No. of Companies Paid up Capital

Public Limited

Private Limited

Total Public Limited

Private Limited

Total

(1) (2) (3) (4) (5) (6) (7)NORTHERN REGIONHARYANA 5 19 24 0.00 0.12 0.12HIMACHAL PRADESH 10 31 41 1.08 0.72 1.80JAMMU & KASHMIR 0 0 0 0.00 0.00 0.00PUNJAB 84 234 318 22.16 17.71 39.87RAJASTHAN 48 406 454 1.69 3.52 5.21UTTAR PRADESH 7 35 42 6.41 3.80 10.21UTTRAKHAND 0 4 4 0.00 0.81 0.81CHANDIGARH 67 127 194 3.53 3.10 6.63DELHI 7 66 73 2.18 0.95 3.13

Total 228 922 1150 37.05 30.73 67.78EASTERN REGIONARUNACHAL PRADESH 0 0 0 0.00 0.00 0.00ASSAM 0 1 1 0.00 0.01 0.01BIHAR 7 19 26 0.02 0.55 0.57JHARKHAND 1 5 6 0.00 0.03 0.03MANIPUR 0 0 0 0.00 0.00 0.00MEGHALAYA 0 0 0 0.00 0.00 0.00MIZORAM 0 0 0 0.00 0.00 0.00NAGALAND 0 0 0 0.00 0.00 0.00ORISSA 12 108 120 0.60 1.57 2.17TRIPURA 0 0 0 0.00 0.00 0.00WEST BENGAL 656 2890 3546 47.26 460.04 507.30

Total 676 3023 3699 47.88 462.20 510.08WESTERN REGIONCHHATISGARH 0 0 0 0.00 0.00 0.00GUJARAT 0 3 3 0.00 0.55 0.55MADHYA PRADESH 0 0 0 0.00 0.00 0.00MAHARASHTRA 8 6988 6996 0.00 11.05 11.05DADRA & N HAVELI 0 0 0 0.00 0.00 0.00DAMAN & DIU 0 0 0 0.00 0.00 0.00Goa 1 2 3 0.00 0.20 0.20

Total 9 6993 7002 0.00 11.80 11.80SOUTHERN REGIONA & N ISLAND 0 0 0 0.00 0.00 0.00ANDHRA PRADESH 0 0 0 0.00 0.00 0.00KARNATAKA 8 92 100 1.23 3.96 5.19KERALA 5 191 196 0.28 4.26 4.54TAMIL NADU 104 638 742 3.72 5.27 8.99PUDUCHERRY 0 1 1 0.00 0.01 0.01LAKSHDWEEP 0 0 0 0.00 0.00 0.00

Total 117 922 1039 5.23 13.50 18.73Grand Total 1030 11860 12890 90.16 518.23 608.39

77

STATEMENT - V Companies Limited by Shares at work as on 31st March, 2010:

(State-wise Distribution)

Sl. No. STATE / UT No. of CompaniesPublic Limited Private Limited Total

(1) (2) (3) (4) (5)1 ANDHRA PRADESH 6827 55601 624282 ARUNACHAL PRADESH 29 281 3103 ASSAM 700 5593 62934 BIHAR 1214 8083 92975 CHHATISGARH 362 3488 38506 GOA 250 4933 51837 GUJARAT 5906 42271 481778 HARYANA 1019 8930 99499 HIMACHAL PRADESH 323 2361 268410 JAMMU & KASHMIR 238 2197 243511 JHARKHAND 299 3962 426112 KARNATAKA 3070 39619 4268913 KERALA 1532 16992 1852414 MADHYA PRADESH 1367 11694 1306115 MAHARASHTRA 15753 165832 18158516 MANIPUR 41 152 19317 MEGHALAYA 127 555 68218 MIZORAM 10 48 5819 NAGALAND 28 243 27120 ORISSA 859 7727 858621 PUNJAB 2202 14077 1627922 RAJASTHAN 1793 24324 2611723 TAMIL NADU 7153 59261 6641424 TRIPURA 25 136 16125 UTTAR PRADESH 4706 24471 2917726 UTTRAKHAND 278 1949 222727 WEST BENGAL 9438 88853 9829128 DELHI 15866 151463 16732929 A & N ISLAND 4 132 13630 CHANDIGARH 1182 6087 726931 DAMAN & DIU 58 163 22132 D & N HAVELI 51 207 25833 LAKSHDWEEP 0 10 1034 PUDUCHERRY 112 1343 1455 Total 82822 753038 835860

78

STATEMENT- VI Government Companies Limited by Shares at work as on 31st March, 2010:

(State-wise Distribution)

Sl. No.

STATE / UT

No. of CompaniesPublic Limited Private Limited Total

(1) (2) (3) (4) (5)1 ANDHRA PRADESH 44 32 762 ARUNACHAL PRADESH 4 5 93 ASSAM 27 24 514 BIHAR 71 5 765 CHHATISGARH 18 3 216 GOA 13 4 177 GUJARAT 63 6 698 HARYANA 13 2 159 HIMACHAL PRADESH 11 8 1910 JAMMU & KASHMIR 21 3 2411 JHARKHAND 17 9 2612 KARNATAKA 64 22 8613 KERALA 80 35 11514 MADHYA PRADESH 51 16 6715 MAHARASHTRA 136 103 23916 MANIPUR 3 10 1317 MEGHALAYA 7 8 1518 MIZORAM 1 4 519 NAGALAND 4 2 620 ORISSA 79 6 8521 PUNJAB 8 5 1322 RAJASTHAN 47 3 5023 TAMIL NADU 75 18 9324 TRIPURA 5 4 925 UTTAR PRADESH 116 13 12926 UTTRAKHAND 16 2 1827 WEST BENGAL 70 21 9128 DELHI 112 41 15329 A & N ISLAND 1 1 230 CHANDIGARH 19 11 3031 DAMAN & DIU 1 1 232 D & N HAVELI 2 0 233 LAKSHDWEEP 0 1 134 PUDUCHERRY 0 15 15 Total 1199 443 1642

79

STATEMENT - VII Non-Government Companies Limited by Shares at work as on 31st March, 2010:

(State-wise Distribution)

Sl. No. STATE / UT No. of CompaniesPublic Limited Private Limited Total

(1) (2) (3) (4) (5)1 ANDHRA PRADESH 6783 55569 623522 ARUNACHAL PRADESH 25 276 3013 ASSAM 673 5569 62424 BIHAR 1143 8078 92215 CHHATISGARH 344 3485 38296 GOA 237 4929 51667 GUJARAT 5843 42265 481088 HARYANA 1006 8928 99349 HIMACHAL PRADESH 312 2353 266510 JAMMU & KASHMIR 217 2194 241111 JHARKHAND 282 3953 423512 KARNATAKA 3006 39597 4260313 KERALA 1452 16957 1840914 MADHYA PRADESH 1316 11678 1299415 MAHARASHTRA 15617 165729 18134616 MANIPUR 38 142 18017 MEGHALAYA 120 547 66718 MIZORAM 9 44 5319 NAGALAND 24 241 26520 ORISSA 780 7721 850121 PUNJAB 2194 14072 1626622 RAJASTHAN 1746 24321 2606723 TAMIL NADU 7078 59243 6632124 TRIPURA 20 132 15225 UTTAR PRADESH 4590 24458 2904826 UTTRAKHAND 262 1947 220927 WEST BENGAL 9368 88832 9820028 DELHI 15754 151422 16717629 A & N ISLAND 3 131 13430 CHANDIGARH 1163 6076 723931 DAMAN & DIU 57 162 21932 D & N HAVELI 49 207 25633 LAKSHDWEEP 0 9 934 PUDUCHERRY 112 1328 1440 Total 81623 752595 834218

80

STATEMENT - VIII Companies Limited by Shares at work as on 31st March, 2010:

(Distribution by Industrial Activity)

Sl.No.

IndustrialClassification

No. of Companies

Public Limited Private Limited

Total

(1) (2) (3) (4) (5)

1 Agriculture & Allied Activities 4258 18913 23171

2 Mining & Quarrying 961 9085 10046

3 Manufacturing 25658 188861 214519

4 Electricity, Gas & Water Companies 1543 5750 7293

5 Construction. 4364 71053 75417

6 Trade, Hotels and Restaurants 7510 118842 126352

7 Transport, Storage & Communication 1786 26266 28052

8 Finance, Insurance, Real Estate & Business Services 25074 214442 239516

9 Community, Personal & Social Services 3476 37285 40761

10 Unclassified 8192 62541 70733

Total 82822 753038 835860

81

STATEMENT - IX Government Companies Limited by Shares at work as on 31st March, 2010:

(Distribution by Industrial Activity)

Sl.No. IndustrialClassification No. of Companies

Public Limited Private Limited Total

(1) (2) (3) (4) (5)

1 Agriculture & Allied Activities 72 32 104

2 Mining & Quarrying 53 23 76

3 Manufacturing 354 123 477

4 Electricity, Gas & Water Companies 157 14 171

5 Construction. 80 44 124

6 Trade, Hotels and Restaurants 71 41 112

7 Transport, Storage & Communication 75 15 90

8 Finance, Insurance, Real Estate & Business Services 158 77 235

9 Community, Personal & Social Services 97 43 140

10 Unclassified 82 31 113

Total 1199 443 1642

82

STATEMENT - X Non-Government Companies limited by shares at work as on 31st March, 2010:

(Distribution by Industrial Activity)

Sl.No. IndustrialClassification No. of Companies

Public Limited

Private Limited

Total

(1) (2) (3) (4) (5)

1 Agriculture & Allied Activities 4186 18881 23067

2 Mining & Quarrying 908 9062 9970

3 Manufacturing 25304 188738 214042

4 Electricity, Gas & Water Companies 1386 5736 7122

5 Construction. 4284 71009 75293

6 Trade, Hotels and Restaurants 7439 118801 126240

7 Transport, Storage & Communication 1711 26251 27962

8 Finance, Insurance, Real Estate & Business Services 24916 214365 239281

9 Community, Personal & Social Services 3379 37242 40621

10 Unclassified 8110 62510 70620

Total 81623 752595 834218

83

STATEMENT - XI Companies at work 1956-57 to 2009-10

As on 31st

March

Companies Limited by Shares No. of CompaniesGovernment Companies

Non-Government Companies

Total Companies Companies with

unlimited liablity

Companies limited by Guarantee

and Association

not for profit

Foreign Companies asdefined

u/s 591 of the

Companies Act, 1956

Number Estimated Paid-up Capital

(Rs. Crore)

Number Estimated Paid-up Capital

(Rs. Crore)

Number Estimated Paid-up Capital

(Rs. Crore)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)1957 74 72.6 29283 1005.0 29357 1077.6 - 1364 5511958 91 256.8 28189 1049.5 28280 1306.3 - 1356 5611959 104 428.9 27299 1086.7 27403 1515.6 - 1323 5721960 125 477.2 26772 1141.5 26897 1618.7 - 1180 5651961 142 547.0 26007 1271.5 26149 1818.5 - 1169 5691962 154 629.7 24821 1389.4 24975 2019.1 - 1143 5641963 160 786.2 25462 1470.3 25622 2256.5 - 1153 5821964 176 960.8 25756 1640.0 25932 2600.8 - 1162 5801965 183 1114.9 26038 1727.9 26221 2842.8 - 1162 5821966 214 1247.7 26551 1878.4 26765 3126.1 - 1161 5791967 232 1391.5 26795 2009.8 27027 3401.3 - 1152 5781968 241 1559.3 27103 2114.5 27344 3673.8 - 1160 5811969 259 1714.9 27765 2259.4 28024 3974.3 - 1188 5641970 282 1790.6 28727 2299.9 29009 4090.5 - 1206 5611971 314 2064.4 30008 2439.2 30322 4503.6 - 1220 5431972 352 2369.1 31915 2571.7 32267 4940.8 - 1242 5411973 390 2998.4 33966 2750.1 34356 5748.5 - 1262 5381974 450 4645.1 37035 2985.9 37485 7631.0 1 1294 5401975 573 4966.0 40007 3234.8 40580 8200.8 4 1326 5101976 651 6122.3 42755 3497.2 43406 9619.5 15 1337 4811977 701 7174.5 45165 3705.2 45866 10879.7 43 1356 4821978 745 8527.6 47549 4070.4 48294 12598.0 47 1381 4731979 782 8315.2 50736 4260.0 51518 12575.2 62 1414 3581980 825 10070.3 55668 4536.3 56493 14606.6 78 1447 3151981 851 11442.6 61863 4914.1 62714 16356.7 176 1478 3001982 894 13309.3 71508 5626.2 72402 18935.5 219 1496 3111983 943 16734.9 81960 6321.4 82903 23056.3 252 1536 3201984 973 19510.6 93291 6989.8 94264 26500.4 282 1598 3261985 980 22447.0 108329 8149.7 109309 30596.7 295 1677 3241986 1020 27087.8 123359 9506.8 124379 36594.6 298 1739 3351987 1053 32872.7 139617 11095.1 140670 43967.8 299 1817 3711988 1104 37169.3 157220 12954.8 158324 50124.1 309 1881 4011989 1134 42572.4 179194 15131.1 180328 57703.5 319 1954 4201990 1160 47450.7 200968 17192.7 202128 64643.4 303 2041 4691991 1167 54484.6 223285 20313.3 224452 74797.9 317 2117 4891992 1180 57911.0 249181 26731.3 250361 84642.3 330 2192 5071993 1190 61163.4 275664 32891.7 276854 94055.1 337 2262 5291994 1203 67380.5 304422 46441.4 305625 113821.9 349 2350 5651995 1199 73299.5 352093 62719.2 353292 136018.7 375 2416 6191996 1216 76962.8 407926 87125.6 409142 164088.4 392 2506 6791997 1220 84317.8 449730 106200.8 450950 190518.6 419 2578 7721998 1223 88958.9 483277 128689.7 484500 217648.6 420 2652 8711999 1229 95918.4 510761 167440.9 511990 263359.3 427 2727 9562000 1245 102849.9 541189 215960.4 542434 318810.3 449 2824 10452001 1266 109745.6 567834 247501.2 569100 357246.8 461 2918 11412002 1261 120505.2 587985 285248.0 589246 405753.2 479 3007 12852003 1283 130482.3 610872 326576.4 612155 457058.7 490 3108 14972004 1309 146358.3 640203 352432.5 641512 498790.8 496 3244 16542005 1328 155814.1 678321 498207.5 679649 654021.6 496 3432 18402006 1352 167614*(1136) 730817 451538*(478870) 732169 619152*(480006) 498 3605 20402007 1669 199269*(1232) 742009 507291*(534782) 743678 706560*(536014) 520 3846 23102008 1628 253124*(1321) 767517 670904*(579411) 769145 924028*(580732) 559 4039 2609

2009 (R) 1591 229939*(1372) 785183 689004*(642023) 786774 918943*(643395) 639 13014 29032010 (P) 1642 252040*(1364) 834218 774563*(639478) 835860 1026603*(640842) 678 7577 3050

* Paid-up Capital data for Companies (No’s given in parenthesis) as compiled from MCA21.

84

STATEMENT - XII Paid-up Capital of Companies Limited by Shares as on 31st March, 2009:

(State-wise Distribution)

(Revised) (Capital in Rs. crore)

Sl.No. STATES / UT Public Limited Private Limited TotalNo. of

CompaniesPaid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)1 ANDHRA PRADESH 4606 30768.82 33684 25709.17 38290 56477.992 ASSAM 577 3182.65 4344 1552.01 4921 4734.663 BIHAR 1041 583.19 6464 788.54 7505 1371.724 CHHATISGARH 313 1994.88 2719 1194.55 3032 3189.445 GUJARAT 4376 61481.17 35354 12478.06 39730 73959.236 HARYANA 805 19261.42 5811 6465.26 6616 25726.687 HIMACHAL PRADESH 299 7964.58 1878 691.42 2177 8656.008 J & K 217 325.66 1820 329.15 2037 654.819 JHARKHAND 255 3096.60 3157 2845.24 3412 5941.8510 KARNATAKA 2633 38975.57 30523 23522.75 33156 62498.3311 KERALA 1254 5359.09 13230 4124.77 14484 9483.8612 MADHYA PRADESH 1153 10427.85 9280 2647.12 10433 13074.9713 MAHARASHTRA 11561 138541.65 112961 84180.66 124522 222722.3114 MANIPUR 40 60.92 122 33.26 162 94.1715 MEGHALAYA 113 3514.27 450 335.88 563 3850.1516 MIZORAM 9 18.96 27 32.66 36 51.6217 NAGALAND 23 185.26 192 28.08 215 213.3418 ORISSA 718 6669.14 5791 1524.77 6509 8193.9119 PUNJAB 2011 6327.46 12060 2836.17 14071 9163.6320 RAJASTHAN 1342 10824.73 17937 3446.91 19279 14271.6521 TAMIL NADU 5631 39309.07 47803 26523.06 53434 65832.1322 TRIPURA 19 144.95 102 58.11 121 203.0623 UTTAR PRADESH 3565 36432.91 17988 3763.86 21553 40196.7724 UTTRAKHAND 223 4594.35 1319 397.54 1542 4991.8825 WEST BENGAL 7438 46675.27 72272 30533.55 79710 77208.8226 A & N ISLAND 3 4.61 66 16.65 69 21.2627 ARUNACHAL PRADESH 22 41.27 221 42.73 243 84.0028 CHANDIGARH 1061 2320.86 5057 1036.56 6118 3357.4329 D & N HAVELI 53 1021.14 155 54.09 208 1075.2330 DELHI 13759 121144.72 130335 76208.35 144094 197353.0731 GOA 206 1485.89 3731 1180.87 3937 2666.7632 DAMAN & DIU 44 352.89 136 141.80 180 494.6933 LAKSHDWEEP 0 0.00 3 6.52 3 6.5234 PUDUCHERRY 99 270.40 934 850.64 1033 1121.03

TOTAL 65469 603362.22 577926 315580.75 643395 918942.97

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

85

STATEMENT - XIII Paid-up Capital of Government Companies Limited by Shares as on 31st March, 2009:

(State-wise Distribution)

(Revised) (Capital in Rs. crore)

Sl.No. STATES / UT Public Limited Private Limited TotalNo. of

CompaniesPaid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)1 ANDHRA PRADESH 36 5891.45 12 7855.81 48 13747.262 ASSAM 29 1412.13 24 451.58 53 1863.713 BIHAR 58 157.66 5 104.43 63 262.094 CHHATISGARH 15 57.03 4 367.89 19 424.925 GUJARAT 55 22891.85 1 0.01 56 22891.866 HARYANA 13 13280.06 3 117.09 16 13397.157 HIMACHAL PRADESH 9 4257.99 9 108.90 18 4366.898 J & K 20 241.94 3 5.02 23 246.959 JHARKHAND 14 2568.58 9 2230.85 23 4799.4310 KARNATAKA 60 17818.28 6 4.74 66 17823.0211 KERALA 80 1772.55 29 596.56 109 2369.1212 MADHYA PRADESH 43 6734.83 9 237.04 52 6971.8713 MAHARASHTRA 118 16360.78 59 1437.12 177 17797.9014 MANIPUR 2 2.21 10 9.87 12 12.0815 MEGHALAYA 4 3201.72 8 108.59 12 3310.3116 MIZORAM 2 15.79 4 30.31 6 46.1017 NAGALAND 3 122.25 4 6.44 7 128.6918 ORISSA 68 3082.08 3 65.24 71 3147.3119 PUNJAB 8 200.66 1 0.01 9 200.6820 RAJASTHAN 40 5924.15 2 24.06 42 5948.2021 TAMIL NADU 59 6107.21 10 59.57 69 6166.7722 TRIPURA 7 62.90 2 44.59 9 107.5023 UTTAR PRADESH 104 25153.87 8 59.58 112 25213.4524 UTTRAKHAND 17 4141.78 2 7.01 19 4148.7925 WEST BENGAL 61 20984.26 20 826.44 81 21810.7026 A & N ISLAND 1 1.00 1 10.97 2 11.9727 ARUNACHAL PRADESH 4 0.37 5 8.16 9 8.5428 CHANDIGARH 19 402.25 9 104.86 28 507.1129 D & N HAVELI 1 4.83 0 0.00 1 4.8330 DELHI 104 49774.54 23 1693.68 127 51468.2231 GOA 13 182.22 2 5.62 15 187.8432 DAMAN & DIU 1 6.31 1 0.02 2 6.3333 LAKSHDWEEP 0 0.00 1 6.50 1 6.5034 PUDUCHERRY 0 0.00 15 534.44 15 534.44

TOTAL 1068 212815.50 304 17123.00 1372 229938.51

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

86

STATEMENT - XIV Paid-up Capital of Non-Government Companies Limited by Shares as on 31st March, 2009:

(State-wise Distribution)

(Revised) (Capital in Rs. crore)

Sl.No. STATES / UT Public Limited Private Limited TotalNo. of

CompaniesPaid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)1 ANDHRA PRADESH 4570 24877.38 33672 17853.35 38242 42730.732 ASSAM 548 1770.53 4320 1100.43 4868 2870.963 BIHAR 983 425.53 6459 684.11 7442 1109.644 CHHATISGARH 298 1937.86 2715 826.66 3013 2764.525 GUJARAT 4321 38589.32 35353 12478.05 39674 51067.376 HARYANA 792 5981.37 5808 6348.16 6600 12329.537 HIMACHAL PRADESH 290 3706.59 1869 582.51 2159 4289.118 J & K 197 83.72 1817 324.13 2014 407.859 JHARKHAND 241 528.03 3148 614.39 3389 1142.4210 KARNATAKA 2573 21157.29 30517 23518.02 33090 44675.3111 KERALA 1174 3586.54 13201 3528.21 14375 7114.7512 MADHYA PRADESH 1110 3693.02 9271 2410.08 10381 6103.1013 MAHARASHTRA 11443 122180.87 112902 82743.54 124345 204924.4114 MANIPUR 38 58.71 112 23.39 150 82.1015 MEGHALAYA 109 312.55 442 227.29 551 539.8416 MIZORAM 7 3.17 23 2.35 30 5.5217 NAGALAND 20 63.01 188 21.64 208 84.6518 ORISSA 650 3587.06 5788 1459.54 6438 5046.6019 PUNJAB 2003 6126.80 12059 2836.15 14062 8962.9620 RAJASTHAN 1302 4900.59 17935 3422.86 19237 8323.4421 TAMIL NADU 5572 33201.86 47793 26463.49 53365 59665.3622 TRIPURA 12 82.04 100 13.52 112 95.5623 UTTAR PRADESH 3461 11279.03 17980 3704.29 21441 14983.3224 UTTRAKHAND 206 452.57 1317 390.53 1523 843.1025 WEST BENGAL 7377 25691.02 72252 29707.11 79629 55398.1226 A & N ISLAND 2 3.61 65 5.68 67 9.2927 ARUNACHAL PRADESH 18 40.90 216 34.56 234 75.4628 CHANDIGARH 1042 1918.61 5048 931.71 6090 2850.3229 D & N HAVELI 52 1016.31 155 54.09 207 1070.4030 DELHI 13655 71370.18 130312 74514.67 143967 145884.8531 GOA 193 1303.67 3729 1175.25 3922 2478.9232 DAMAN & DIU 43 346.58 135 141.78 178 488.3633 LAKSHDWEEP 0 0.00 2 0.02 2 0.0234 PUDUCHERRY 99 270.40 919 316.20 1018 586.59

TOTAL 64401 390546.71 577622 298457.75 642023 689004.47

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

87

STATEMENT - XV Paid up Capital of Companies Limited by Shares as on 31st March, 2009 :

(Distribution by Industrial Activity)(Revised)

(Capital in Rs. crore)

Sl. No. IndustrialClassification Public Limited Private Limited Total

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital

(1) (2) (3) (4) (5) (6) (7) (8)

1 Agriculture, Foresty and Fishing 2938 4989.57 14007 3507.94 16945 8497.52

2 Mining & Quarrying 748 20009.27 6781 5042.68 7529 25051.96

3 Manufacturing 20639 188011.23 153171 95157.65 173810 283168.88

4 Electricity, Gas & Water Companies 1293 92292.17 3864 11873.40 5157 104165.58

5 Construction. 3573 48953.96 54827 28009.08 58400 76963.04

6 Trade, Hotels and Restaurants 6027 20789.56 91027 36672.25 97054 57461.80

7 Transport, Storage and Communications 1397 20385.12 20350 10897.95 21747 31283.06

8 Finance, Insurance, Real Estate & Business Services

19512 93075.30 159347 78352.03 178859 171427.33

9 Community, Personal & Social Services 2819 35655.16 27241 13977.46 30060 49632.62

10 Unclassified 6523 79200.89 47311 32090.31 53834 111291.20

Total 65469 603362.22 577926 315580.75 643395 918942.97

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

88

STATEMENT - XVI Paid up Capital of Government Companies Limited by Shares as on 31st March, 2009 :

(Distribution by Industrial Activity)

(Revised) (Capital in Rs. crore)

Sl.No. IndustrialClassification Public Limited Private Limited Total

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)

1 Agriculture, Foresty and Fishing 74 472.44 32 178.19 106 650.63

2 Mining & Quarrying 48 8228.63 17 2800.06 65 11028.69

3 Manufacturing 324 54130.48 93 9789.03 417 63919.51

4 Electricity, Gas & Water Companies 121 71161.37 13 586.55 134 71747.92

5 Construction. 72 22714.07 23 110.98 95 22825.05

6 Trade, Hotels and Restaurants 70 635.62 23 67.47 93 703.09

7 Transport,Storage and Communications 55 2535.64 9 356.64 64 2892.28

8 Finance,Insurance,Real Estate & 147 8543.34 46 1289.98 193 9833.32

Business Services

9 Community, Personal & Social Services 88 17305.29 29 406.18 117 17711.47

10 Unclassified 69 27088.63 19 1537.91 88 28626.55

TOTAL 1068 212815.50 304 17123.00 1372 229938.51

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

89

STATEMENT - XVII Paid up Capital of Non-Government Companies Limited by Shares as on 31st March, 2009 :

(Distribution by Industrial Activity)

(Revised) (Capital in Rs. crore)

Sl.No. IndustrialClassification Public Limited Private Limited Total

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)

1 Agriculture, Foresty and Fishing 2864 4517.14 13975 3329.75 16839 7846.89

2 Mining & Quarrying 700 11780.64 6764 2242.63 7464 14023.27

3 Manufacturing 20315 133880.75 153078 85368.61 173393 219249.37

4 Electricity, Gas & Water Companies 1172 21130.81 3851 11286.85 5023 32417.66

5 Construction. 3501 26239.89 54804 27898.10 58305 54137.99

6 Trade, Hotels and Restaurants 5957 20153.93 91004 36604.78 96961 56758.71

7 Transport,Storage and Communications 1342 17849.48 20341 10541.31 21683 28390.78

8 Finance,Insurance,Real Estate & 19365 84531.96 159301 77062.05 178666 161594.01

Business Services

9 Community, Personal & Social Services 2731 18349.87 27212 13571.28 29943 31921.15

10 Unclassified 6454 52112.26 47292 30552.40 53746 82664.66

TOTAL 64401 390546.71 577622 298457.75 642023 689004.47

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

90

STATEMENT - XVIII Paid-up Capital of Companies Limited by Shares as on 31st March, 2010:

(State-wise Distribution)

(Provisional) (Capital in Rs. crore)

Sl.No. STATES / UT Public Limited Private Limited TotalNo. of

CompaniesPaid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)1 ANDHRA PRADESH 4601 33783.46 33635 28281.75 38236 62065.222 ASSAM 575 3219.95 4341 1707.72 4916 4927.673 BIHAR 1041 592.20 6455 866.82 7496 1459.024 CHHATISGARH 313 2199.28 2718 1378.20 3031 3577.485 GUJARAT 4362 67080.47 35243 13289.98 39605 80370.456 HARYANA 803 22520.47 5769 7451.20 6572 29971.677 HIMACHAL PRADESH 299 8665.46 1875 978.04 2174 9643.518 J & K 217 355.12 1817 338.09 2034 693.219 JHARKHAND 255 3882.43 3154 2925.65 3409 6808.0810 KARNATAKA 2621 40180.67 30384 26823.91 33005 67004.5811 KERALA 1238 5602.84 13169 4992.40 14407 10595.2412 MADHYA PRADESH 1150 11244.60 9258 2909.45 10408 14154.0513 MAHARASHTRA 11482 154106.87 112517 95180.51 123999 249287.3914 MANIPUR 40 72.39 122 34.05 162 106.4415 MEGHALAYA 113 3598.17 450 345.31 563 3943.4916 MIZORAM 9 18.96 27 32.66 36 51.6217 NAGALAND 23 78.04 192 27.80 215 105.8418 ORISSA 715 6740.68 5781 1611.09 6496 8351.7719 PUNJAB 2005 7760.08 11984 3149.85 13989 10909.9320 RAJASTHAN 1337 14455.92 17873 3715.10 19210 18171.0221 TAMIL NADU 5583 43819.82 47584 32872.75 53167 76692.5622 TRIPURA 19 341.31 102 67.13 121 408.4423 UTTAR PRADESH 3560 39490.10 17937 4887.40 21497 44377.5024 UTTRAKHAND 223 4766.82 1313 458.20 1536 5225.0225 WEST BENGAL 7399 42410.02 71954 33324.64 79353 75734.6626 A & N ISLAND 3 4.61 66 16.85 69 21.4627 ARUNACHAL PRADESH 22 47.62 220 46.30 242 93.9228 CHANDIGARH 1054 2467.52 5018 1099.52 6072 3567.0429 D & N HAVELI 53 1221.33 154 62.25 207 1283.5830 DELHI 13687 141022.22 129798 91096.47 143485 232118.7031 GOA 206 1586.99 3716 1436.69 3922 3023.6832 DAMAN & DIU 43 361.37 136 155.79 179 517.1633 LAKSHDWEEP 0 0.00 3 6.52 3 6.5234 PUDUCHERRY 98 293.84 928 1041.18 1026 1335.03

TOTAL 65149 663991.65 575693 362611.28 640842 1026602.93

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

91

STATEMENT - XIX Paid-up Capital of Government Companies Limited by Shares as on 31st March, 2010:

(State-wise Distribution)

(Provisional) (Capital in Rs. crore)

Sl.No. STATES / UT Public Limited Private Limited TotalNo. of

CompaniesPaid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)1 ANDHRA PRADESH 36 6189.50 12 7856.92 48 14046.422 ASSAM 28 1339.17 24 451.58 52 1790.753 BIHAR 58 157.66 5 104.43 63 262.094 CHHATISGARH 15 57.03 4 388.00 19 445.035 GUJARAT 55 28394.76 1 0.01 56 28394.776 HARYANA 13 12662.21 3 117.09 16 12779.307 HIMACHAL PRADESH 9 4257.99 9 423.13 18 4681.128 J & K 20 241.94 3 5.02 23 246.959 JHARKHAND 14 2773.08 9 2230.85 23 5003.9310 KARNATAKA 60 18505.92 6 12.59 66 18518.5111 KERALA 77 1870.74 29 597.81 106 2468.5612 MADHYA PRADESH 43 7717.91 9 237.04 52 7954.9513 MAHARASHTRA 118 19864.45 59 1177.89 177 21042.3314 MANIPUR 2 2.21 10 9.87 12 12.0815 MEGHALAYA 4 3220.54 8 108.59 12 3329.1316 MIZORAM 2 15.79 4 30.31 6 46.1017 NAGALAND 3 14.07 4 6.44 7 20.5118 ORISSA 68 3055.99 3 0.24 71 3056.2319 PUNJAB 8 200.66 1 0.01 9 200.6820 RAJASTHAN 38 7377.18 2 24.06 40 7401.2321 TAMIL NADU 58 7193.68 10 60.36 68 7254.0422 TRIPURA 7 63.71 2 50.82 9 114.5423 UTTAR PRADESH 104 28119.47 8 59.58 112 28179.0524 UTTRAKHAND 17 4199.74 2 7.01 19 4206.7525 WEST BENGAL 60 14429.57 20 826.44 80 15256.0126 A & N ISLAND 1 1.00 1 10.97 2 11.9727 ARUNACHAL PRADESH 4 5.32 5 8.16 9 13.4928 CHANDIGARH 19 402.25 9 105.57 28 507.8229 D & N HAVELI 1 4.93 0 0.00 1 4.9330 DELHI 104 62285.97 23 1713.68 127 63999.6531 GOA 13 200.26 2 5.62 15 205.8832 DAMAN & DIU 1 6.46 1 0.02 2 6.4833 LAKSHDWEEP 0 0.00 1 6.50 1 6.5034 PUDUCHERRY 0 0.00 15 572.64 15 572.64

TOTAL 1060 234831.15 304 17209.25 1364 252040.40

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

92

STATEMENT - XX Paid-up Capital of Non-Government Companies Limited by Shares as on 31st March, 2010:

(State-wise Distribution)

(Provisional) (Capital in Rs. crore)

Sl.No. STATES / UT Public Limited Private Limited TotalNo. of

CompaniesPaid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)1 ANDHRA PRADESH 4565 27593.97 33623 20424.83 38188 48018.802 ASSAM 547 1880.78 4317 1256.14 4864 3136.933 BIHAR 983 434.54 6450 762.39 7433 1196.944 CHHATISGARH 298 2142.26 2714 990.20 3012 3132.465 GUJARAT 4307 38685.71 35242 13289.97 39549 51975.686 HARYANA 790 9858.27 5766 7334.11 6556 17192.377 HIMACHAL PRADESH 290 4407.47 1866 554.91 2156 4962.388 J & K 197 113.18 1814 333.07 2011 446.259 JHARKHAND 241 1109.35 3145 694.80 3386 1804.15

10 KARNATAKA 2561 21674.75 30378 26811.32 32939 48486.0711 KERALA 1161 3732.09 13140 4394.59 14301 8126.6812 MADHYA PRADESH 1107 3526.69 9249 2672.41 10356 6199.0913 MAHARASHTRA 11364 134242.43 112458 94002.63 123822 228245.0514 MANIPUR 38 70.18 112 24.18 150 94.3715 MEGHALAYA 109 377.63 442 236.72 551 614.3616 MIZORAM 7 3.17 23 2.35 30 5.5217 NAGALAND 20 63.97 188 21.36 208 85.3318 ORISSA 647 3684.69 5778 1610.85 6425 5295.5419 PUNJAB 1997 7559.42 11983 3149.83 13980 10709.2520 RAJASTHAN 1299 7078.75 17871 3691.04 19170 10769.7921 TAMIL NADU 5525 36626.13 47574 32812.39 53099 69438.5222 TRIPURA 12 277.60 100 16.31 112 293.9123 UTTAR PRADESH 3456 11370.63 17929 4827.82 21385 16198.4524 UTTRAKHAND 206 567.08 1311 451.19 1517 1018.2725 WEST BENGAL 7339 27980.45 71934 32498.20 79273 60478.6526 A & N ISLAND 2 3.61 65 5.88 67 9.4927 ARUNACHAL PRADESH 18 42.30 215 38.13 233 80.4328 CHANDIGARH 1035 2065.26 5009 993.96 6044 3059.2229 D & N HAVELI 52 1216.39 154 62.25 206 1278.6530 DELHI 13583 78736.25 129775 89382.79 143358 168119.0431 GOA 193 1386.73 3714 1431.07 3907 2817.8132 DAMAN & DIU 42 354.92 135 155.77 177 510.6833 LAKSHDWEEP 0 0.00 2 0.02 2 0.0234 PUDUCHERRY 98 293.84 913 468.55 1011 762.39

TOTAL 64089 429160.50 575389 345402.03 639478 774562.52

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

93

STATEMENT - XXI Paid up Capital of Companies Limited by Shares as on 31st March, 2010 :

(Distribution by Industrial Activity)

(Provisional) (Capital in Rs. crore)

Sl.No. IndustrialClassification Public Limited Private Limited Total

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)

1 Agriculture, Foresty and Fishing 2930 5370.04 13957 4027.25 16887 9397.29

2 Mining & Quarrying 746 16403.71 6769 5205.43 7515 21609.14

3 Manufacturing 20545 205824.84 152671 108158.94 173216 313983.78

4 Electricity, Gas & Water Companies 1289 107711.84 3855 12911.84 5144 120623.68

5 Construction. 3560 59232.98 54498 34340.22 58058 93573.20

6 Trade, Hotels and Restaurants 6000 22647.75 90682 40813.58 96682 63461.33

7 Transport,Storage and Communications 1385 25733.93 20274 12976.14 21659 38710.07

8 Finance,Insurance,Real Estate & Business Services

19400 99518.54 158746 89360.28 178146 188878.82

9 Community, Personal & Social Services 2804 36292.55 27124 17071.76 29928 53364.31

10 Unclassified 6490 85255.47 47117 37745.83 53607 123001.30

TOTAL 65149 663991.65 575693 362611.28 640842 1026602.93

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

94

STATEMENT - XXII Paid up Capital of Government Companies Limited by Shares as on 31st March, 2010 :

(Distribution by Industrial Activity)

(Provisional) (Capital in Rs. crore)

Sl. No.

IndustrialClassification Public Limited Private Limited Total

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)

1 Agriculture, Foresty and Fishing

74 612.47 32 204.84 106 817.32

2 Mining & Quarrying 48 8762.21 17 2735.56 65 11497.77

3 Manufacturing 319 56505.40 93 9552.46 412 66057.87

4 Electricity, Gas & Water Companies

123 81291.02 13 896.17 136 82187.19

5 Construction. 71 26410.55 23 118.83 94 26529.38

6 Trade, Hotels and Restaurants 70 750.51 23 68.40 93 818.92

7 Transport,Storage and Communications

54 3018.88 9 357.39 63 3376.27

8 Finance,Insurance,Real Estate & Business Services

145 9351.47 46 1289.94 191 10641.41

9 Community, Personal & Social Services

87 17892.47 29 425.91 116 18318.38

10 Unclassified 69 30236.17 19 1559.73 88 31795.90

TOTAL 1060 234831.15 304 17209.25 1364 252040.40

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

95

STATEMENT - XXIII Paid up Capital of Non-Government Companies Limited by Shares as on 31st March, 2010 :

(Distribution by Industrial Activity)

(Provisional) (Capital in Rs. crore)

Sl.No. IndustrialClassification Public Limited Private Limited Total

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

No. of Companies

Paid up Capital*

(1) (2) (3) (4) (5) (6) (7) (8)

1 Agriculture, Foresty and Fishing 2856 4757.57 13925 3822.41 16781 8579.98

2 Mining & Quarrying 698 7641.50 6752 2469.87 7450 10111.37

3 Manufacturing 20226 149319.44 152578 98606.47 172804 247925.92

4 Electricity, Gas & Water Companies 1166 26420.81 3842 12015.67 5008 38436.49

5 Construction. 3489 32822.43 54475 34221.39 57964 67043.81

6 Trade, Hotels and Restaurants 5930 21897.24 90659 40745.18 96589 62642.41

7 Transport,Storage and Communications

1331 22715.05 20265 12618.75 21596 35333.80

8 Finance,Insurance,Real Estate & 19255 90167.08 158700 88070.33 177955 178237.41

Business Services

9 Community, Personal & Social Services

2717 18400.08 27095 16645.85 29812 35045.93

10 Unclassified 6421 55019.30 47098 36186.10 53519 91205.40

TOTAL 64089 429160.50 575389 345402.03 639478 774562.52

*Paid-up Capital is worked out on the basis of the companies data available on the MCA Portal.

96

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