Government of IndIa

mInIstry of Corporate affaIrs

new delhI

55th

annUal reporton the workInG & admInIstratIon

of the CompanIes aCt, 1956year ended marCh, 2011

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, 2010 to March 31, 2011.

New Delhi

CONTENTS

CHAPTER PAGE No.

CHAPTER – I 1 – 14 General Review

CHAPTER – II 15 – 26 Review of Corporate Sector

CHAPTER – III 27 – 42 Applications and Documents received under different Sections of the Companies Act, 1956

CHAPTER – IV 43 – 44 Corporate Management

CHAPTER – V 45 – 59 Inspections, Investigations, Prospecutions, Oppression & Mismanagement, Cost Audit, Investors Education and Protection Fund, Investor Protection and Vanishing Companies

CHAPTER – VI 61 Liquidation of Companies

CHAPTER – VII 63 – 72 Mobilization of Funds by the Corporate Sector

CHAPTER – VIII 73 Financial Aggregates of Corporate Sector

APPENDIx 77 – 100 Statistical Statements (I to xxIV)

1

Chapter – IGeneral revIew

Ministry of Corporate Affairs

This Report relates to the 55th year of the Working & Administration of the Companies Act, 1956, namely, the financial year ending 31st March, 2011.

Introduction

1.1 The Ministry of Corporate Affairs administers several statutes relating to the corporate sector including “The Companies Act, 1956”. Besides, 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 Competition Act, 2002 as amended by Competition (Amendment) Act, 2009

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

Organisational set-up1

1.2.1 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 Hyderabad and offices of Registrars of Companies (ROCs) in States and Union Territories. 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 Additional Secretary, three Joint Secretaries, an Economic Adviser, one Cost Adviser, two Directors of Inspection and Investigation and other officials having expertise on legal, accounting, economic and statistical matters.

B. Regional Directors

1.2.3 The Regional Directors are in-charge of the respective regions, each region comprising

1 The position depicted in this report relates to 31.03.2011. For details of subsequent re-organisation of offices under the Ministry, please refer to the Annual Report of the Ministry, 2011-12.

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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 Board

1.3.1 The Central Government in terms of Section 10(E) of the Companies Act, 1956 constituted an independent Company Law

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.

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. OfficialLiquidators

1.2.5 The Official Liquidators are officers appointed by the Central Government under Section 448 of the Companies Act, 1956 and

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Board (CLB) vide Notification No. 364 dated the 31st May, 1991. The CLB is a quasi-judicial body, exercising equitable jurisdiction, which was earlier being exercised by the High Court or the Central Government. The Board has powers to regulate its own procedures. The Company Law Board has framed “Company Law Board Regulations 1991” prescribing the procedure for filing the applications/petitions before it. The Central Government has also prescribed the 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 four Regional Benches located at New Delhi, Mumbai, Kolkata and Chennai. From 1st April 2008 onwards the matter falling under sections 247, 250, 269, 388B of the Companies Act, 1956 are being dealt with by the Principal Bench. The matter falling under sections 17, 18, 19, 58AA, 79/80A, 111/111A, 113/113A, 117, 117C, 118, 141, 144, 163, 167, 186, 196, 219, 235, 237(b), 284, 304, 397/398, 408, 409, 614 and 621A of the Companies Act, 1956 and section 45QA of the Reserve Bank of India Act, 1934 are being dealt with by Regional Benches consisting of one or more members each. The matters pending before the Principal Bench and Additional Principal Bench as on 1st April 2008 shall continue to be disposed off in the name of Principal Bench and Additional Principal Bench respectively. In case a 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 In terms of Section 10F of the Companies Act, any person aggrieved by any decision or order of the Company Law Board may file an appeal to the High Court within sixty days from the date of communication of the decision or order of the Company Law Board to him on any question of law arising out of such order.

1.3.4 The constitution of the Company Law Board as on 31st March, 2011, is as follows:-

1. Hon’ble Shri Justice Dilip Raosaheb Deshmukh, Chairman.

2. Smt. Vimla Yadav, Member (Technical), CLB, Regional Bench, New Delhi.

3. Shri Kanthi Narahari, Member (Judicial), CLB, Regional Bench, Mumbai.

4. Smt. Lizamma Augustine, Member (Judicial), CLB, Regional Bench, Chennai.

5. Shri B.S.V. Prakash Kumar, Member (Judicial), CLB, Regional Bench, Kolkata.

6. Shri R. Vasudevan, Member (Technical) CLB, New Delhi (Under Suspension).

1.3.5 During the period from 1st April 2010 to 31st March 2011, 13975 petitions/applications were considered under various sections of the Companies Act, 1956 by Company Law Board. Out of 13975 petitions/applications, 9757 Petitions/applications were disposed off under sections 17, 18, 19, 79/80A, 111/111A, 113/113A, 117C, 141, 144, 163, 167, 169, 186, 196, 219, 235, 237(b), 284, 304, 397/398, etc. of the Companies Act, 1956, 2179 cases

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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. During 1st April 2010 to 31st March 2011, a sum of Rs. 31,30,375/- has been paid to 404 depositors as Principal Amount of fixed deposits and 8,44,987/- has been paid as interest to 134 depositors of Pure Drinks (New Delhi) Ltd.

1.3.9 During 01.04.2010 to 31.03.2011 filing fees received by the CLB is Rs. 54,56,633/- and compounding fees realized as on 31.03.2011 is Rs. 2,89,42,000/-.

1.3.10 The details of petitions/applications received and disposed of by the Company Law Board including all the Regional Benches during the period from 1.04.2010 to 31.03.2011 is given in Table 1.1.

were compounded under section 621A of the Companies Act, 1956, 2039 applications were disposed of u/s 58A (9) of the Companies Act, 1956 and 45 QA of the RBI Act, 1934.

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 has constituted 19 Hardship Committees.

1.3.7 Hardship Committee Meetings are being held in CLB, New Delhi to consider application for refund of deposit on hardship grounds in respect of 8 companies. During the period from 1.4.2010 to 31.03.2011 a sum of Rs. 1,10,90,255/- approx has been disbursed to 703 depositors. Payment of deposits to the small and needy depositors has been expedited.

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

and pending during the period from 1.4.2010 to 31.3.2011

Composition of Bench & Section Opening Balance as on

1.4.2010

Received during the

year

Total (Col. 2 & 3)

Disposed of during the

year

Pending as on

31.3.2011(1) (2) (3) (4) (5) (6)

Sec. 17 127 1430 1557 1381 176Sec. 18/19 10 61 71 63 8Sec. 45QA of RBI Act. 29 1 30 26 4Sec. 58A(9) 1943 256 2199 2005 194Sec. 58AA(1) 8 0 8 8 0Sec. 79/80A 4 1 5 3 2Sec. 113/113(3) 9 37 46 32 14Sec. 117 0 0 0 0 0Sec. 117 C 181 0 181 108 73Sec. 118 0 0 0 0 0Sec. 141 158 6489 6647 6379 268Sec. 144 0 0 0 0 0Sec. 163 8 75 83 66 17Sec. 167 12 17 29 18 11Sec. 169 0 1 1 1 0Sec. 186 7 4 11 8 3Sec. 196 3 2 5 5 0Sec. 219 2 2 4 4 0Sec. 284 11 5 16 9 7Sec. 304 0 0 0 0 0Sec. 307 0 0 0 0 0Sec. 614 3 5 8 4 4Sec. 621A 809 1821 2630 2179 451Sec. 111 197 79 276 117 159Sec. 634 A 2 6 8 1 7Sec. 235 3 4 7 0 7Sec. 237 (b) 11 6 17 1 16Sec. 284 (4) 5 0 5 5 0Sec. 397/398 919 384 1303 263 1040Sec. 408 4 0 4 0 4Sec. 409 0 1 1 0 1Sec. 247/250 10 5 15 1 14Sec. 269 0 0 0 0 0Sec. 388 B 3 0 3 0 3Interlocutory Applications 0 772 772 772 0Misc. Applications 71 626 697 516 181Grand Total 4549 12090 16639 13975 2664

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Petitions/Applications considered and disposed of by the Company Law Board during the years 2008-09, 2009-10 and 2010-11

Year No. of Petitions/ Applications

Considered Disposed of

(1) (2) (3)

2008-09 11928 9058

2009-10 16106 11557

2010-11 16639 13975

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/

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

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to introduce other modes of payments like net banking & challan, as in MCA21.

1.4.4 In the interest of stakeholders, with a view to improving service delivery time, Ministry has decided to accept payments of value upto Rs. 50,000 for MCA21 services, only in electronic mode w.e.f. 27th March, 2011. For the payments of value above Rs. 50,000, stakeholders would have the option to either make the payment in electronic mode, or paper challan. However such payments would also be made in electronic mode w.e.f. 1st October, 2011.

1.4.5 During the year 2010-11, a number of initiatives were taken towards easier e-reporting of activities including those of Corporate Social Responsibility by companies. Six e-forms were revised and a new e-form CSR was introduced for voluntary reporting of Corporate Social Responsibility.

1.4.6 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.

1.4.7 Following operational statistics bring out the stability in the system, increased volume of filings and improved compliance:

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. This has enabled the stakeholders to make payment of stamp duty on MCA21 portal itself. E-stamping has been introduced in MCA21 portal w.e.f. 9th September, 2009. 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.

1.4.3 E-Governance system for LLP was made operational on 1st April, 2009. The system was designed and developed by NIC. All e Forms are available for filing by users. Payment via credit card is also enabled. Currently there are 4314 LLPs registered as on 31st March, 2011 including conversion from companies & firms. 15415 DPINS are allocated. It is planned

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– I Sl. No. Description (Filing Status as on 31st March, 2011) Number

(1) (2) (3)

1. Average portal hits per day 40 Lakh

2. Total filings through the system till 31st March, 2011 125.04 Lakh

3. Number of Companies registered online 3,35,332

4. Total DIN issued till date 19.83 Lakh

5. Company records viewed online 15.33 Lakh

6. Number of Balance Sheets filed 20.77 Lakh

7. Number of Annual Returns filed 20.82 Lakh

8. Number of E-Stamping transaction up to 31st March, 2011 154814

9. Amount of E-Stamping collected up to 31st March, 2011 23509.89 Lakh

on Finance for examination and report, which submitted its report to the Parliament on 31st August, 2010.

1.5.3 Keeping in view the recommendations made by the Standing Committee and consultation with various Government Ministry/ Department etc. a revised Companies Bill, 2011 was prepared in consultation with Legislative Department which was approved by the Cabinet on 24th November, 2011. The Companies Bill, 2009, pending in Lok Sabha, has been withdrawn and revised Companies Bill, 2011 introduced in the Lok Sabha on 14th December, 2011. The Companies Bill, 2011 is available on the website of the Ministry.

Legal framework for Limited Liability Partnership (LLP):

1.6.1 The Limited Liability Partnership (LLP) Act, 2008 was enacted in the year 2009 to make provisions of limited liability partnerships and for matter connected therewith or incidental

Revision of Companies Act and other related Legislations

Comprehensive revision of the Companies Act, 1956:

1.5.1 Keeping in view the developments taking place nationally as well as internationality and with a view to modernize the structure for corporate regulation in India and represent a major reform statement by the Government to promote the development of the Indian corporate section through enlightened regulation, a decision was taken to revise the existing Companies Act, 1956 comprehensively.

1.5.2 Various Stakeholders viz. Industry Chambers, Professional Institutes, Government Departments, legal Experts and Professional etc. consulted in the process and accordingly, the Companies Bill, 2009 was introduced in the Lok Sabha on 3rd August, 2009 and was referred to Hon’ble Parliamentary Standing Committee

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to elicit information in accordance with the provisions of the Companies Act, 1956.

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 practices with a view to facilitate comparability 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. As on 31st March, 2011, 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

thereto. 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. The Limited Liability Partnership (LLP) is a new corporate form that enables professional expertise and entrepreneurial initiative to combine, organize and operate in an innovative and efficient manner. There has been only one amendment in LLP Rules during the year which specifies modification in Form-10. 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.

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. Four forms, namely, Form 1, Form 32, Form DIN 1 & DIN 3 were undertaken for revision and implemented in the system for use by the stakeholders. The objectives of the revision of aforesaid Forms were to make the filing easier and more clarificatory to the users, to make the back office processing of e-forms easier for prompt response to the user and to bring further improvement in the e-forms by changing/adding or deleting fields therein

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follow the converged Indian Accounting Standard as and when the notification to be issued giving the effective date of enforcement.

1.8.6 National Advisory Committee on Accounting Standards (NACAS) has recommended 35 Indian Accounting Standards [Ind-ASs] and the revised Schedule VI to the Ministry for further processing and notification. A Technical Committee has been constituted in the Ministry to examine them. It has finalized revised Schedule VI and 35 Indian Accounting Standards with certain changes as decided by the Technical Committee.

NOTIFICATIONS, GENERAL CIRCULARS AND PRESS NOTES

1.9 During the period from 1st April, 2010 to 31st March, 2011, the following Notifications, General Circular and Press Notes were issued:-

a wide range of users for 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 The application of the Converged Indian Accounting Standard (Ind AS) for companies including Insurance Companies, Banking Companies and non Banking companies shall

NOTIFICATIONS :- Sl. No.

NotificationNumber

Date Subject

1. S.O. 913(E) 22.04.2010 Notification for nomination of Shri Amarjit Chopra, President ICAI in place of Shri Uttam Prakash Aggarwal, President ICAI.

2. GSR-475 (E) 07.06.2010 Authorization to the Officers in SFIO u/s 621(1) of the Companies Act, 1956 for the process of filing and conducting prosecution.

3. S.O.-1548(E) 25.06.2010 Delegation of power of Central Government u/s 637(1) of the Companies Act, 1956 to Director SFIO in respect of section 240, of those cases wherein the Central Government appoints officers of SFIO as inspectors to investigate into the affairs of a company u/s 235 & 237 of the Act.

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Sl. No.

NotificationNumber

Date Subject

4. S.O. 1679(E) 14.07.2010 Notification for extension of term of NACAS from 21st July, 2010 to 20th August, 2010.

5. GSR-601(E) 16.07.2010 Prohibition on appointment of Sole Selling Agents for sale of bulk drugs, drugs and formulations u/s 294 AA(1) of the Companies Act, 1956.

6. S.O.2392(E) 29.09.2010 Notification for extension of term of NACAS from 20th August, 2010 to 21st November, 2010.

7. GSR-848(E) 15.10.2010 Amendment in the Companies (Central Government’s) General Rules and Forms, 1956, - Revision of Form No.1 and Form No. 32.

8. GSR-849(E) 15.10.2010 Amendment in the Companies (Director Identification Number) Rules, 2006 (Amendment) 2010- Revision of Form DIN 1 and Form DIN- 3.

9. GSR-866(E) 29.10.2010 Amendment to Companies Regulations, 1956 with regard to jurisdiction of the Regional Directors.

10. GSR-867(E) 29.10.2010 Authorizations to the officers in SFIO u/s 621 of the Companies Act, 1956 for the purpose of filing and conducting prosecution.

11. GSR-914(E) 15.11.2010 Amendment in Form 10 of LLP Rules,10.12. S.O.2926(E) 10.12.2010 Notification for extention of term of NACAS from

21st November,2010 to 21st January, 2011-11.13. S.O.107(E) 19.01.2011 Appointment of National Advisory Committee on

Accounting Standards.14. S.O.300(E) 08.02.2011 Exemption under Section 211 of Companies

Act,1956.15. S.O.301(E) 08.02.2011 Exemption under Section 211 of Companies Act,195616. GSR 70(E) 08.02.2011 Amendments in Schedule XIII to the Companies Act

1956.17. G.S.R. 78(E) 10.02.2011 Amendment in Companies (Central Government’s)

General Rules and Forms,1956.18. G.S.R.196(E) 08.03.2011 Corrigendum to Notification GSR 112(E) dated 25th

February,2011.19. S.O.591(E) 18.03.2011 Amendment in the notification number, SRO dated

7th January,1957.20. G.S.R. 223(E) 18.03.2011 Delegation of powers and functions to Regional

Directors on selective provisions.

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No.Notification

NumberDate Subject

21. G.S.R. 222(E) 18.03.2011 Delegation of powers and functions Registrars of Companies on selective provisions.

22. G.S.R. 258(E) 26.03.2011 Amendment in Companies (Director Identification Number) Rules,2011.

23. G.S.R. 259(E) 26.03.2011 Amendment in Companies (Central Government’s) general Rules & Forms (Amendment) Rules,2011(Form)61.

24. S.O. 447(E) 28.02.2011 Amendment to Schedule VI.25. S.O. 653(E) 30.03.2011 Amendment to paragraph 2 of Notification No. S.O.

447(E) dated 28.2.2011 regarding Scheduled VI.26. G.S.R. 289(E) 31.03.2011 Amendment in Companies (Particulars of Employees)

Rules,1975.

GENERAL CIRCULARS:-Sl. No.

Circular Number

Date Subject

1. 1/2010 26.05.2010 Company Law Settlement Scheme, 2010.2. 2/2010 26.05.2010 Easy Exit Scheme, 2010.3. 3/2010 10.08.2010 Clarification on Easy Exit Scheme, 2010.4. 4/2010 22.11.2010 Change in additional fee to be levied for delay I filing

forms.5. 5/2010 22.11.2011 Reopening/ revision of annual accounts after their adoption

in the AGM.6. 6/2010 03.12.2010 Easy Exit Scheme,2010.7. 1/2011 03.02.2011 Extention of EES,2011.8. 2/2011 08.02.2011 Direction u/s 212(8) of Companies Act,1956 (Exemption

matter).9. 3/2011 21.02.2011 Clarification to Circular No. 2/2011.10. 4/2011 04.03.2011 Clarification regarding payment to Non-Whole Time

Director within 1% or 3% of profit in addition to sitting fee.11. 5/2011 04.03.2011 DIN Process (simplified).12. 6/2011 08.03.2011 Process of incorporation of companies ( Form 1) and

Establishment of Principal Place of business in India by Foreign Companies (Form 44) – Procedure simplified.

13. 7/2011 09.03.2011 Payment of MCA Fees – Electronic Mode.14. 7A/2011 11.03.2011 Easy Exit Scheme,2011.15. 8/2011 25.03.2011 Prosecution of Directors.16. 9/2011 31.03.2011 Filing of Balance Sheet in XBRL mode.

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PRESS NOTES:-Sl. No.

Press Note Number

Date Subject

1. 04/2009 04.05.2010 Convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS).

2. 05/2010 28.05.2010 Company Law Settlement Scheme, 2010.3. 06/2010 28.05.2010 Easy exit Scheme,2011.4. 07/2010 27.07.2010 MOU on convergence between India and Japan.5. 08A/2010 04.11.2010 Tax Implications of Converged Accounting Standards.6. 08/2010 22.11.2010 Change in additional fee to be levied for delay in filing forms.7. 01/2011 04.02.2011 Extension of ESS 2011.8. 02/2011 08.02.2011 General Exemption under section 211.9. 03/2011 08.02.2011 Direction under Section 212.10. 04/2011 08.02.2011 Managerial Remuneration in unlisted companies having no

profit/inadequate profits.11. 05/2011 08.02.2011 General Exemption u/s 211.12. 06/2011 15.02.2011 Clarification regarding investigation into telecom companies.13. 07/2011 15.02.2011 IFRS

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 2nd July, 2003 after it was approved by the Cabinet vide its note dated 9th January, 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 of the Companies Act, 1956.

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

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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 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 setting up of the NCLT/NCLAT faced a legal challenge and the matter was sub judice on account of a Special Leave Petition (SLP) filed by the Central Government in Supreme Court, following a ruling by the Madras High Court in the Matter. The Companies Bill, 2011 has been drafted in line with the judgment dated 11th May, 2010 of the Constitution Bench of the Hon’ble Supreme Court.

Revenue Receipts & Expenditure: 2006-07 to 2010-11

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

Revenue Receipts and Expenditure during 2006-07 to 2010-11

Year Revenue Receipts

(Rs. crore)

Expenditure (Rs. crore)

(1) (2) (3)2006-07 1038.19 122.192007-08 1304.17 111.492008-09 1231.78 205.472009-10* 1235.35 223.15 2010-11** 1493.45 271.66

* Revised** Provisional

15

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 2010-11 is reviewed in this chapter.

Company registration

2.2.1 During the year 2010-11, 91861 companies were incorporated under the Companies Act, 1956. These include 51 Government companies with liability limited by shares, 91586 Non-Government companies with liability limited by shares, 27 non-Government companies with unlimited liability, one (1) Government company with liability limited by guarantee and associations not for profit and 196 Non-Government companies with liability limited by guarantee and associations not for

Chapter – IIrevIew of Corporate SeCtor

profit. The number of new companies registered during the year was equivalent to 12.7 per cent of the companies at work as on 31.3.2011. The authorised capital of 91637 companies with liability limited by shares registered during the year aggregated to Rs. 68,916.98 crore.

2.2.2 Of the 91637 companies with liability limited by shares registered during the year, 3036 were public limited companies with an authorised capital of Rs.41074.98 crore and 88601 were private limited companies with an aggregate authorised capital of Rs.27842.00 crore. Table 2.1 sets out the pattern of registration of new companies during the year 2010-11. Region/State-wise distribution of companies limited by shares registered during the year 2010-11 is given in Statement-I (Appendix).

Table 2.1Companies registered during the year 2010-11

Type of Company Government Non-Government TotalNo. of

CompaniesAuthorised

Capital(Rs. Crore)

No. of Companies

AuthorisedCapital

(Rs. Crore)

No. of Companies

AuthorisedCapital

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

1. Liability limited by Shares (i) Public Limited 38 28399.50 2998 12675.48 3036 41074.98 (ii) Private Limited 13 258.12 88588 27583.88 88601 27842.00Sub-Total 51 28657.62 91586 40259.36 91637 68916.982. Unlimited Liability 0 0.00 27 9.13 27 9.133. Liability limited by Guarantee and Associations not for profit

1 0.00 196 10.31 197 10.31

Total 52 28657.62 91809 40278.80 91861 68936.42

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2.2.3 Industrial Activity–wise distribution of companies registered during the year 2010-11

is indicated in Table 2.2 below:

Table 2.2Registration of New Companies Limited by Shares during the year 2010-11:

(Distribution by Industrial Activity wise)Sl.No.

Industrial Classification

Public Limited Private Limited TotalNo. of

CompaniesAuthorised

Capital(Rs. Crore)

No. ofCompanies

AuthorisedCapital

(Rs. Crore)

No. ofCompanies

Authorised Capital (Rs.

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

Allied Activities250 171.31 2008 407.06 2258 578.37

2 Mining and quarrying

32 53.20 1194 471.11 1226 524.31

3 Manufacturing 614 5031.90 14187 7325.99 14801 12357.894 Electricity, Gas and

water Companies208 28303.51 2026 5607.18 2234 33910.69

5 Construction 452 3795.88 10042 2501.58 10494 6297.466 Trade, Hotels and

Restaurants244 172.11 18035 2310.95 18279 2483.06

7 Transport, Storage and Communication

73 389.75 2759 2118.19 2832 2507.94

8 Finance, Insurance, Real Estate & Business Services

986 2789.46 32153 5980.09 33139 8769.55

9 Community, Personal and Social Services

177 367.86 6197 1119.85 6374 1487.71

10 Unclassified 0 0.00 0 0.00 0 0.00 Total 3036 41074.98 88601 27842.00 91637 68916.98

Activity -wise Distribution of Newly Registered Companies (2010-11)

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2.2.4 The number of companies with liability limited by shares registered during the last five years from 2006-07 to 2010-11 is given in Table 2.3. This shows that the number of

new companies with liability limited by shares registered during the year 2010-11 was higher by 35.62 percent over the new companies registered during the previous year.

Table 2.3Registration of New Companies Limited by Shares

during the years 2006-07 to 2010-11

Year Public Limited Private Limited Total

No. ofCompanies

AuthorisedCapital

(Rs. Crore)

No. ofCompanies

AuthorisedCapital

(Rs. Crore)

No. ofCompanies

AuthorisedCapital

(Rs. Crore))

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

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

2010-11 3036 41074.98 88601 27842.00 91637 68916.98

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Companies at work

2.3.1 There were a total of 721719

2.3.2 State-wise and Industrial Activity-wise distribution of companies limited by shares at work as on 31st March, 2011 is given in statements V to X (Appendix) respectively.

Long Term Trends

2.4.1 Statement XI (Appendix) gives the data on growth of the corporate sector by

companies at work as on 31st March, 2011, as summarised in Table 2.4 below.

various categories of companies at work during operation of the Companies Act, 1956 i.e. the years 1956-57 to 2010-11. It will be observed that the companies limited by shares have recorded a phenomenal growth. The number of such companies at work increased by 24.3 times from 29357 at the end of 1956-57 to 714555 (excluding 170313 dormant companies) at the end of 2010-11.

Table 2.4Companies at work as on 31st March, 2011

Sl. No. Type of Company Number of Companies

(1) (2) (3)I. Companies Limited by Shares (as defined under Section

3(1)(iii) and (iv) of the Companies Act,1956)(a) Government Companies(i) Public Limited 988(ii) Private Limited 328 Sub-Total (a) 1316(b) Non-Government Companies(i) Public Limited 58658(ii) Private Limited 654581 Sub-Total (b) 713239 Total (a+b) 714555 *

II. Companies with Unlimited Liability(as defined u/s 32 of the Companies Act,1956)

437 **

III. Companies limited by Guaranteeand Associations not for profit (as defined u/s 25 of the Companies Act,1956)

3600 ***

IV. Foreign Companies (as defined under Section 591 of the Companies Act)

3127

Grand Total 721719

* Excludes 170313 dormant companies.** Exclude 229 dormant companies.*** Excludes 3858 dormant companies.

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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 3600 (excluding 3858 dormant companies) at the end of 2010-11.

2.4.3 The first company with unlimited liability was registered in 1973-74. The number of such companies at the end of 2010-11 were 437 (excluding 229 dormant companies).

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. Thereafter, the number of Branches of Foreign companies recorded gradual decline till the end of 1980-81 when it touched as low as 300 branches. The number has steadily increased since then and as on 31.3.2011, stood at 3127.

GOVERNMENT COMPANIES

Registration of New Companies:

2.5.1 During the year 2010-11, 51 Government companies were registered with an authorised capital of Rs. 28657.62 crore. State-wise distribution of Government companies limited by shares registered during the year 2010-11 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 2.5Year-wise Registration of New Government Companies (2006-07 to 2010-11)

Year Public Limited Private Limited Total

No. ofCompanies

AuthorisedCapital

(Rs. Crore)

No. ofCompanies

AuthorisedCapital

(Rs. Crore)

No. ofCompanies

AuthorisedCapital

(Rs. Crore)

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

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

2010-11 38 28399.50 13 258.12 51 28657.62

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Government companies which ceased to work:

2.6 Twenty-six (26) Government companies were reported to have ceased working during the year 2010-11.

Government companies at work:

2.7 There were 1642 Government companies limited by shares at work in the country as on 31st March, 2010. After taking into account the newly registered companies, conversion between Government and non-Government companies, mergers, amalgamation and liquidation, there were 1316 (excludes 299 dormant companies) Government companies limited by shares at work in the country as on 31st March, 2011. Of these 1316 (excludes 299 dormant companies) companies, 988 (excludes 221 dormant companies) were public limited and 328 (excludes 78 dormant companies) were private limited companies. State-wise distribution of

Government companies limited by shares at work as on 31.03.2011 is given in Statement VI (Appendix).

NON-GOVERNMENT COMPANIES

Registration of New Companies:

2.8 During the year 2010-11, 91586 Non-Government companies limited by shares were registered in the country with an authorised capital of Rs. 40259.36 crore. Of these, 2998 were Public limited companies with aggregate authorised capital of Rs. 12675.48 crore and 88588 were Private limited companies with aggregate authorised capital of Rs. 27583.88 crore. State-wise distribution of Non-Government companies limited by shares registered during the year 2010-11 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 Year-wise Registration of Non-Government Companies Limited by

Shares (2006-07 to 2010-11)

Year Public Limited Private Limited TotalNo. of

CompaniesAuthorised

Capital(Rs. crore)

No. ofCompanies

AuthorisedCapital

(Rs. crore)

No. ofCompanies

AuthorisedCapital

(Rs. crore)

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

2006-07 1898 34574.30 49694 25124.70 51592 59699.00

2007-08 2556 31015.92 62694 42272.59 65250 73288.51

2008-09 2332 7172.29 62166 19606.37 64498 26778.66

2009-10 1990 21012.79 65519 15702.79 67509 36715.58

2010-11 2998 12675.48 88588 27583.88 91586 40259.36

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State-wise Distribution:

2.9 Out of 91586 Non-Government companies registered during the year 2010-11, 60218 companies or 65.8 per cent of the total were registered in the 5 States/ Maharashtra, West Bengal, Delhi, Andhra Pradesh and Tamil Nadu. Maharashtra occupied the top position with 16797 new registration (18.3 per cent) followed by West Bengal (18.0 per cent), Delhi (17.0 per cent), Andhra Pradesh (6.3 per cent) and Tamil Nadu (6.1 per cent). The other States and Union Territories together accounted for 31368 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 2010-11. The largest number of companies registered during the year viz. 33131 companies or 36.2 per cent of the total, belonged to the group “Finance, Insurance, Real Estate & Business Services “ followed by 18277 or 20.0 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 2010-11

S. No. IndustrialClassification Number of Companies Authorised Capital

Number Percent (Rs. Crore) Percent

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

1 Agriculture and Allied Activities 2256 2.46 548.37 1.36

2 Mining and quarrying 1221 1.33 413.26 1.03

3 Manufacturing 14798 16.16 12192.89 30.29

4 Electricity, Gas and water Companies 2223 2.43 7253.49 18.02

5 Construction 10490 11.45 6277.41 15.59

6 Trade, Hotels and Restaurants 18277 19.96 2473.05 6.14

7 Transport, Storage and Communication 2821 3.08 2258.79 5.61

8 Finance, Insurance, Real Estate & Business Services

33131 36.17 7439.39 18.48

9 Community, Personal and Social Services

6369 6.95 1402.71 3.48

10 Unclassified 0 0.00 0.00 0.00

Total 91586 100.00 40259.36 100.00

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Non-Government Companies which ceased to work:

2.11 During the year 2010-11, 20049 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. 2038.94 crore. State/ Region-wise distribution of companies which ceased to work during 2010-11 is shown in Statement IV (Appendix). Table 2.8 shows the details of liquidated and struck off companies during the last five years

Table 2.8 Non-Government Companies which ceased to work from 2006-07 to 2010-11

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)

2006-07 0 0.00 65 394.48 17753 20910.86 17818 21305.342007-08 0 0.00 27 15.58 54307 35643.06 54334 35658.642008-09 0 0.00 28 11.68 17442 4868.66 17470 4880.342009-10 0 0.00 19 3.11 12871 605.28 12890 608.392010-11 0 0.00 9 2.30 20040 2036.64 20049 2038.94

Non-Government Companies Limited by shares at work:

2.12.1 There were 713239 (excludes 170014 dormant companies) Non-Government companies limited by shares at work in the country as on 31st March, 2011. These

comprised 58658 (excludes 21688 dormant companies) Public limited companies and 654581 (excludes 148326 dormant companies) Private limited companies. State-wise distribution of Non-Government companies limited by shares at work as on 31.03.2011 is given in Statement VII (Appendix).

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Non-Government Companies Limited by shares at work during (1998-2011)

Government Companies with Unlimited liability

2.13 As on 31.03.2011, there were 4 Government companies with unlimited liabilities at work.

Non-Government Companies with Unlimited liability

2.14 During the year 2010-11, 27 Non-

Government companies with unlimited liability were registered. These companies were mainly registered in the state of Delhi (7), Maharastra (7), Karnataka (3) and Uttar Pradesh (3). There were 433 (excludes 229 dormant companies) Non-Government companies with Unlimited Liability at work as on 31.03.2011.Table 2.9 gives state-wise distribution of Non-Government companies with unlimited liability during 2010-11.

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Table 2.9 State-wise distribution of Non-Government Companies

with Unlimited liability during 2010- 11

Sl. No.

State / Union Territory Number of Companies registered during 2010- 11

Number of Companies at work as on 31.3.2011

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

1. Andhra Pradesh 0 19

2. Arunachal Pradesh 0 1

3. Bihar 0 2

4. Chandigarh 0 2

5. Delhi 7 99

6. Goa 1 29

7. Gujarat 0 99

8. Haryana 0 5

9. Himachal pradesh 1 4

10. Jammu and Kashmir 2 3

11. Jharkhand 0 1

12. Karnataka 3 49

13. Kerala 1 2

14. Madhya Pradesh 0 5

15. Maharashtra 7 63

16. Orissa 0 4

17. Puducherry 0 1

18. Punjab 0 10

19. Rajasthan 0 3

20. Tamil Nadu 0 6

21. Uttar Pradesh 3 6

22. Uttaranchal 1 3

23. West Bengal 1 17

Total 27 433 *

* Excludes 229 dormant companies.

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Companies with Liability limited by Guarantee and Associations not for profit:

2.15 During the year 2010-11, 197 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 31.3.2011 was 3600 (excludes 3858 dormant companies).

Foreign Companies:

2.16 As per section 591 of the Companies Act, 1956, foreign companies are those companies which are incorporated outside India but 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 31.3.2011 was 3127. Table 2.10 gives the country-wise distribution of such foreign companies as on 31.3.2010 and 31.3.2011.

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

Table 2.10 DistributionofForeignCompaniesdefinedunderSection591oftheCompaniesAct,1956

by their country of incorporation as on 31.3.2010 and 31.3.2011

Sl. No.

Country of incorporation of Foreign Companies

Number of Companies as on 31.03.2010

Number of Companies as on 31.03.2011

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

1. United States of America 444 448

2. Singapore 311 313

3. United Kingdom 235 250

4. Japan 185 183

5. Germany 127 128

6. Hong Kong 104 106

7. France 88 90

8. Republic of Korea 79 90

9. Australia 61 62

10. Netherlands 59 60

11. Italy 54 58

12. Malaysia 46 48

13. Switzerland 40 45

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Sl. No.

Country of incorporation of Foreign Companies

Number of Companies as on 31.03.2010

Number of Companies as on 31.03.2011

14. China 36 37

15. Canada 35 36

16. Spain 34 41

17. Thailand 30 31

18. UAE 28 35

19. Belgium 25 24

20. Others 1029 1042

Total 3050 3127

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3.1.1 The receipt and disposal of applications and documents under various Sections of the Companies Act, 1956 during the year 2010-11, 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.

Chapter – IIIapplICatIonS and doCumentS reCeIved under

dIfferent SeCtIonS of the CompanIeS aCt, 1956

Applications and Documents received by the Regional Directors/Registrars of Companies

Applications received under Sections 20, 166(1), 210(4) & other various Sections of the Companies Act, 1956.

3.2.1 Applications received during the year 2010-11 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 172182. 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 2008- 09, 2009- 10 and 2010-11

Subject / Section

2008-09 2009-10 2010-11B/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)

2152 98021 100173 2067 98265 100332 2101 132030 134131

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

99 1618 1717 157 1571 1728 106 1413 1519

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I

Subject / Section

2008-09 2009-10 2010-11B/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)

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

24 293 317 45 238 283 32 267 299

4. Other applications (Under various Sections)

8292 60839 69131 6252 195436 201688 7116 39460 46576

Total 10567 160771 171338 8521 295510 304031 9355 172182 181537

3.2.2 Taking into account the 172182 applications received during the year under review and 9355 applications brought forward from the previous year, the number of applications considered during the year came to 181537. Of

these, 166717 applications were allowed, 8386 were rejected and 6434 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 2010-11.

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 2010-11

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)

2101 132030 134131 124770 7171 2190

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

106 1413 1519 1033 394 92

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

32 267 299 178 77 44

4. Other Applications (Under various Sections)

7116 39460 46576 41724 744 4108

Total 9355 172182 181537 166717 8386 6434

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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 2916961 documents were filed by the companies with the Registrars

of Companies during the year 2010-11. Of these, 593859 were Annual Returns under Sections 159 and 160 of the Act., 705911 were Balance Sheets and Profit and Loss Accounts filed under Section 220 of the Act, and the remaining 1617191 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.

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

Companies Act, 1956 during the years 2008- 09, 2009- 10 and 2010-11

Nature of Document

and Section concerned

2008-09 2009-10 2010-11B/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)

1444 390083 391527 20260 455856 476116 9585 593859 603444

2. Balance Sheets and Profit & Loss Accounts (Section 220)

1360 534723 536083 13871 546484 560355 2832 705911 708743

3. Other Documents (Under various Sections)

42971 1382769 1425740 49752 1364516 1414268 57229 1617191 1674420

Total 45775 2307575 2353350 83883 2366856 2450739 69646 2916961 2986607

3.3.2 Taking into account the 2916961 documents received during the year under review and 69646 documents brought forward from the previous year, the total number of documents requiring scrutiny during the year was 2986607. Of these, 2871499 documents

were taken on record as being in order, 27492 were returned for rectification of defects and 77619 remained pending at the end of the year. Section-wise details of disposal of documents are shown in Table 3.4.

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

Sections of the Companies Act, 1956 during the year 2010-11

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 recti-fication

Pending at the end of

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

1. Annual Returns (Section 159 & 160)

9585 593859 603444 569928 1949 30567

2. Balance Sheets and Profit & Loss A/c (Section 220)

2832 705911 708743 707380 177 1186

3. Other Documents (Under various Sections)

57229 1617191 1674420 1603188 25366 45866

Total 69646 2916961 2986607 6591496 27492 77619

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

3.4 During the year 2010-11, 586953 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. 2,93,47,650/-. The number of documents inspected in the previous year (2009-10) was 463275 and the amount of fee realised was Rs. 2,32,21,850/-. The largest number of documents inspected during the year under review was of the Registrar of Companies, Delhi i.e. 143801 documents representing 24.50 per cent of the total. The number of documents in the office of the Registrar of Companies, Mumbai (viz.

130004 representing 22.15 per cent) came next, followed by documents inspected in the Office of the Registrars of Companies, West Bengal, Chennai, and Andhra Pradesh (viz. 61182, 46217 and 43823 respectively) in that order. The documents inspected in the offices of these five Registrars of Companies together accounted for 72.41 per cent of the total documents inspected under this Section in the offices of all the Registrars of Companies during the year under review.

Issue of Certificates and certifiedcopies of documents under Section 610(1)(b).

3.5 The number of certificates of incorporation and certified copies of documents issued during the year 2010-11 by the Registrars

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of Companies under Section 610(1)(b) of the Companies Act totalled 21576 and fees realised on this account amounted to Rs.60,29,359/-. During the year 2009-10, 27992 certificates of incorporation and certified copies of documents were issued and fee of Rs. 1,62,71,410/- was realised.

Conversion of Companies under Section 31 and 43A

3.6 There were 1511 conversions of companies from private to public and vice-versa during the year 2010-11. Of these, 408 conversions from private to public and 1103 from public to private were by alteration of articles of association by special resolution under Section 31 of the Act.

Complaints

(A) Complaint received and disposed of by ROCs

3.7.1 During the year 2010-11, 6678 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 7375.

3.7.2 During the year 2010-11, 7846 complaints were considered including 1168 complaints brought forward from the previous year. Of these, action was taken on 6168 complaints after necessary scrutiny and inquiry and 1678 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.

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

2008-09, 2009-10 and 2010-11

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)2008-09 399 6385 6784 6165 6192009-10 619 7375 7994 6826 11682010-11 1168 6678 7846 6168 1678

Nature of Complaints

3.7.3 The grounds of complaints varied in nature. 1368 complaints (20.5%) out of the total number of complaints received during the year 2010-11 related to non-receipt of balance sheet

by share holders. The other grounds on which a large number of complaints received related to non-payment of public deposits (12.1%) and non-registration of transfer of share (5.4%). The break-up of complaints according to their nature is shown in Table 3.6.

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Table 3.6 Nature of complaints received & disposed by ROCs during 2010-11

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 120 809 929 11.9 548 8.9 381

2 Mismanagement 30 206 236 3.0 230 3.7 63 Non-payment of

dividend43 352 395 5.0 304 5.0 91

4 Non-receipt of Balance Sheets

88 1368 1456 18.6 1276 20.7 180

5 Non-receipt of Notices

12 93 105 1.3 104 1.7 1

6 Non-registration of Transfer of Shares

12 363 375 4.8 359 5.8 16

7 Non-issue of Share certificates

21 242 263 3.4 206 3.3 57

8 Improper holding of meetings

5 37 42 0.5 42 0.7 0

9 Non-holding of Annual General Meetings

10 9 19 0.2 19 0.3 0

10 Non-receipt of Dividend warrant

32 174 206 2.6 204 3.3 2

11 Misappropriation 5 9 14 0.2 13 0.2 112 Fraud/

Embezzlement13 67 80 1.0 79 1.3 1

13 Misapplication of funds

4 4 8 0.1 8 0.1 0

14 Improper election of Directors

1 2 3 0.0 3 0.1 0

15 Failure to allow inspection of

2 12 14 0.2 13 0.2 1

16 Other complaints (Miscellaneous)

770 2931 3701 47.2 2760 44.7 941

Total 1168 6678 7846 100 6168 100 1678

ROC-wise distribution of complaints

3.8 The Registrar of Companies, Mumbai received the largest number of complaints

during the year 2010-11, viz. 2472 (37.0 per cent of the total) followed by the Registrars of Companies, Delhi/Haryana, Andhra Pradesh, U.P. and Tamil Nadu (Chennai), who received

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Table 3.7 ROC-wise break-up of complaints received during 2010-11

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 81 610 691 8.8 357 5.8 334

2 Assam 0 25 25 0.3 24 0.4 1

3 Bihar 0 17 17 0.2 17 0.3 0

4 Delhi/ Haryana 358 1038 1396 17.8 1386 22.5 10

5 Goa 27 15 42 0.5 31 0.5 11

6 Gujarat 0 235 235 3.0 220 3.6 15

7 Jammu & Kashmir 0 1 1 0.0 1 0.0 0

8 Karnataka 22 122 144 1.8 134 2.2 10

9 Kerala 0 119 119 1.5 119 1.9 0

10 Madhya Pradesh 0 205 205 2.6 205 3.3 0

11 Maharashtra (Mumbai)

272 2472 2744 35.0 1796 29.1 948

12 Maharashtra (Pune)

0 148 148 1.9 135 2.2 13

13 Orissa 0 2 2 0.0 2 0.0 0

14 Puducherry 0 4 4 0.1 4 0.1 0

15 Punjab/ H.P./ Chandigarh

14 234 248 3.2 248 4.0 0

16 Rajasthan 12 124 136 1.7 136 2.2 0

17 Tamil Nadu (Chennai)

62 524 586 7.5 548 8.9 38

18 Tamil Nadu (Coimbatore)

0 56 56 0.7 56 0.9 0

19 Uttar Pradesh 28 525 553 7.1 553 9.0 0

20 West Bengal 292 202 494 6.3 196 3.2 298

Total 1168 6678 7846 100 6168 100 1678

1038, 610, 525, and 524 complaints respectively. These five Registrars of Companies together accounted for 77.40 per cent of the total number

of complaints received during the year. The ROC-wise break-up of complaints received during the year 2010-11 is given in Table 3.7.

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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 7079 complaints from the investors/depositors during the period from 1.04.2010 to 31st March, 2011 whereas 1542 complaints were brought forward from the previous year. Out of a total of 8621 complaints, 6972 complaints have been resolved/settled and 1649 complaints were pending for resolution as on 31.03.2011. Further, IGMC received 212 complaints pertaining to other Agencies and the same were forwarded to the respective Agencies for necessary action. Out of these, 58 complaints were forwarded to Securities and Exchange Board of India (SEBI), 33 complaints to Department of Economic Affairs, 44 complaints to Depatrment of Financial Services, 23 complaints to Ministry of Labour, 24 complaints to Official Liquidators, 9 complaints to DARPG, 6 to IRDA, 3 each to Company Law Board(CLB) and Department of Consumer Affairs, 2 each to Ministry of Civil Aviation, Ministry of Railways and BIFR, one

each to Govt. of Maharastra, Ministry of Law & Justice and Department of Post.

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.), Hyderabad and Ahmedabad 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 1,04,038 applications including 25,468 brought forward from the previous year were considered. The largest number of applications, viz. 39,405 (37.88 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 1,04,038 applications, 83,526 were disposed of during the year leaving 20,512 applications pending as on 31st March, 2011.

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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 2010-11

Sl. No.

Section of the Companies Act and the

subject matter of the application

Applications Pending as

on 31.3.2010

Applications Received

during the year 2010-11

Total Col. (3)+(4)

Applications disposed of during the

year 2010-11

Applications Pending as on

31.03.2011

(1) (2) (3) (4) (5) (6) (7)1. 21 - Change of name by

company 588 16253 16841 15297 1544

2. 22 - Rectification of name of company

102 66 168 50 118

3. 25 - Grant of license 118 474 592 431 1614. 25(8) - Alteration in

Memorandum & Articles of Association

40 108 148 124 24

5. 31 - Alteration in Articles through Special Resolution

230 5149 5379 5217 162

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

47 38885 38932 38885 47

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

17 38 55 37 18

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

147 1362 1509 1250 259

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

903 106 1009 288 721

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

23276 16129 39405 21947 17458

Total 25468 78570 104038 83526 20512

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Applications received by 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.

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

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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 1st April, 2010 to 31st March, 2011, Only one (1) application for granting exemption/extension of time under Section 58A (8) of the Companies Act, 1956 was received in addition to 6 applications brought forward from the previous year. Out of the total 7 applications, 5 applications were disposed of during the said period, and 2 applications were under examination as on 31st March, 2011.

(b) Reduction of Equity Share Capital under Section 101

3.13.1 As on 31.03.2010, three (2) applications/ petitions were pending under Section 101 by (i) M/s. Durgapur Chemicals Ltd. and (ii) M/s. National Products Construction Ltd. During the year 2010-11, one (1) more application was received from (i) M/s.Britannia Engineering Ltd.

3.13.2 Out of these 3 cases, 2 applications/petitions of (i) M/s. Durgapur Chemicals Ltd. and (ii) M/s National Projects Construction Ltd. were considered and disposed of. Remaining

one (1) application/petition was pending as on 31.03.2011.

(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 2010-11, two (2) applications were received and no application was pending as on 31.03.2010. Out of these 2 applications, one (1) application was disposed of during the year and one (1) application was pending as on 31st March, 2011.

(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 2010-11 are given in Table 3.9.

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Table 3.9 Applications under Section 166 received and disposed of during 2010-11

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

31.3.2011Request accepted

Request rejected

(1) (2) (3) (4) (5) (6) (7) (8)166(1) Annual General

Meeting(Extension of time)

0 195 195 194 1 0

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

0 29 29 29 0 0

TOTAL 0 224 224 223 1 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.

3.16.2 During the year 2010-11, three (3) applications were received under section 205A (3), while no application was pending as on 31.03.2010. Out of 3 applications, one (1) application was disposed of during the year and two (2) applications were pending as on 31st March, 2011.

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

3.17.1 As on 31.03.2010, six (6) applications were pending under section 205 (2) (c) by (i) ISMT Ltd., (ii) NACIL (iii) Air India Ltd., (iv) New Tirupur Area Dev.Ltd.. (v) Maharastra State Corporation Generation Co. Ltd. and (vi) GTL Infrastructure Ltd. During the period from 1st April, 2010 to 31.03.2011, eight (8) more applications were received from (i) BSES Yamuna Power Ltd., (ii) BSES Rajdhani Power Ltd.,(iii) Vamshi Hydro Energies Pvt. Ltd.,(iv) Reliance Infratel Ltd.,(v) Delhi Airport Metro Express Pvt. Ltd.,(vi) Mumbai Metro One Pvt. Ltd.,(vii) Rosa Power Supply Company Ltd. and (viii) Gujrat State Petronet Ltd.

3.17.2 Out of above 14 cases, 6 applications of (i) BSES Yamuna Power Ltd (ii) BSES Rajdhani Power Ltd (iii) Vamshi Hydro Energies Pvt. Ltd (iv) Reliance Infratel Ltd. (v) GTL Infra.Ltd. and (vi) M/s NACIL were

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considered and disposed of. Remaining 8 applications were under consideration and pending as on 31.03.2011.

(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 31.03.2010, 56 applications were pending under section 211(4) of the Companies Act, 1956. During the period from 1st April, 2010 to 31.03.2011, 204 more applications were received for seeking exemption from complying with the requirements of para 3 and 4 Part-II of Schedule VI to the Companies Act, 1956.

3.18.3 Out of these 260 cases, 257 applications were considered and disposed of. Remaining three (3) applications were under consideration and pending as on 31.03.2011.

(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 31.03.2010, 178 applications were pending under section 212(8) of the Companies Act, 1956. During the period from 01.4.2010 to 31.03.2011, 566 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 744 cases, 741 applications were considered and disposed of. Remaining three (3) applications were under consideration and pending as on 31.03.2011.

(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 2010-11, 2007 applications were received through e-mode for

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approval of appointment of cost auditors under sections 233B(2) of the Companies Act, 1956 as against 1656 applications received during the previous year 2009-10.

(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. 16.7.2010 vide Notification No. GSR 601(E) dated 16.7.2010.

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 2010-11, three (3) applications were received under sub-sections (2) & (3) of Section 294AA of the Companies Act, 1956 while 3 applications were brought forward from the previous year. Out of the total 6 applications, 4 applications were disposed of and 2 applications were pending as on 31st March, 2011.

(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 2010-11, the Central Government received 46 applications while 33 applications were brought forward from the previous year under Section 295. Out of these 79 applications, 53 applications were disposed of and 26 applications were pending as on 31st March, 2011.

(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

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(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 1st April, 2010 to 31st March, 2011, Regional Directors considered 2457 applications including 260 applications brought forward from the previous year. Out of these, 1941 applications have been decided leaving a balance of 516 applications under consideration with Regional Directors as on 31st March, 2011.

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

3.24.1 As on 31.03.2010, four (4) applications/petitions were pending under sections 391-394 by M/s.M.P.State Industrial Development Ltd. and its Secured and Unsecured Creditors etc. (ii) ) Karnataka Small Ind. Marketing Corp. Ltd. with Karnataka State Small Ind. Dev. Ltd. (iii) UTI Infrastructure and Services Limited with

UTI Technology Services Ltd. (iv) Maharastra Elektroselt Ltd. with SAILI. During the period from 1st April, 2010 to 31.03.2011, four (4) more applications/petitions were received (i) Nahan Foundry Ltd with HP State Ind. Dev. Corp. Ltd., (ii) HP State Ind. & Export Corp. Ltd. with HP State Ind. Dev. Corp. Ltd., (iii) West Bengal Rural Energy Dev. Corp. Ltd. with West Bengal State Elec. Distribution Co. Ltd. and (iv) IDBI Bank Ltd. with IDBI Homefinance Ltd. and IDBI Glitz Ltd.

3.24.2 During the period from 1st April, 2010 to 31st March, 2011, Out of these 8 applications/petitions, 3 applications/petitions of (i) M/s.Karnataka Small Industries Marketing Corp. Ltd. with Karnataka State Small Industries Development Ltd., (ii) UTI Infrastructure and Services Ltd. with UTI Technologt Services Ltd. and (iii) HP State Ind. & Export Corp. Ltd. with HP State Ind. Dev. Corp. Ltd. were considered and disposed of. Remaining 5 applications/petitions were under consideration and pending as on 31.03.2011.

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

3.25.1 As on 31.03.2010, two (2) applications/petitions were pending under section 396 by (i) M/s. Tamilnadu Goods Transport Corporation Ltd. with State Express Transport Corporation Ltd. and (ii) Tamilnadu Graphite Ltd. with Tamilnadu Mineral Ltd. During the period from 1st April, 2010 to 31.03.2011, no more application/petition was received.

3.25.2 Out of these 2 cases, 2 applications/petitions of (i) M/s. Tamilnadu Goods Transport

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Corporation Ltd. with State Express Transport Corporation Ltd. and (ii) Tamilnadu Graphite Ltd. with Tamilnadu Mineral Ltd. were pending as on 31.03.2011.

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

3.26 During the year 2010-11, 1362 applications were received under this Section, while 147 were brought forward from the previous year. Out of total of 1509 applications, 1250 were disposed of and 259 cases were under examination as on 31.03.2011.

(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 the Central Government vide its notifications GSR 881 (E) dated 03.11.2010 has made certain amendments in the notification of the Government of India, erstwhile Ministry of Law, Justice and Company Affairs (Department of Company Affairs) No. GSR 555(E) dated 26.07.2001 and published in the Gazette of India, in Part II, Section 3, Sub-Section (1) dated the 26.07.2001 pertaining to Nidhi Companies. The total number of Companies notified as Nidhi Companies is now 368 as on 31st March, 2011.

3.27.2 During the year 2010-11, the Central Government received 9 applications under section 620A of the Companies Act, 1956 while

4 applications were brought forward from the previous year. Out of these 13 applications, 5 applications were disposed of and 8 applications were under consideration of the Central Government as on 31st March, 2011.

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

3.28 During the year 2010-11, no application was received under section 81(1) and (3) for further issue of share capital and no application was pending as on 31.03.2010. Hence, no application was pending as on 31st March, 2011.

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, 2010, 197 appeals under Section 111 were pending with the Company Law Board. During the year 2010-11, 79 appeals were received. Thus 276 appeals were considered during the year. Of these, 117 appeals were disposed of and 159 appeals were pending disposal for non-compliance of various formalities as on 31.03.2011 as per the Companies (Appeals to the Central Government) Rules, 1957.

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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

Chapter – IvCorporate manaGement

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 01.04.2010 to 31.03.2011 are given in Table 4.1 below:

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

Government during 01.04.2010 - 31.03.2011

Under Section

Nature of Applications Brought forward as on

01.04.2010

Received during the

year

Total (Col. 3+4)

Disposed of during the

year

Pending as on

31.03.2011(1) (2) (3) (4) (5) (6) (7)259 Increase in number of Directors 10 32 42 34 8268 Amendment of provisions in the

Articles of Association relating to Managing Director or Whole time Director.

19 7 26 8 18

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Under Section

Nature of Applications Brought forward as on

01.04.2010

Received during the

year

Total (Col. 3+4)

Disposed of during the

year

Pending as on

31.03.2011(1) (2) (3) (4) (5) (6) (7)

269/ Schedule

XIII, 309(1)(b),

309(4)/(5B), 310

Appointment/ 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.

837 1233 2070 1851 219

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.

312 374 686 480 206

Total 1178 1646 2824 2373 451

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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

Chapter – vInSpeCtIonS, InveStIGatIonS, proSeCutIonS, CoSt audIt, InveStorS eduCatIon and proteCtIon fund, InveStor

proteCtIon and vanIShInG CompanIeS

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.;

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(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 Number2007-08 1892008-09 2072009-10 2042010-11 190

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

showing details of action taken in respect of points concerning MCA have been forwarded 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)/397/398/402/406/408of 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 31.3.2011, there were seven (7) cases pending before Company Law Board/High Court/Supreme 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 31.03.2011

Sl. No. Court Name of Company Section Remarks1. Company Law Board UOI Vs. Satyam Computer

Services Ltd.397/398/ 406&408 Pending

2. Company Law Board UOI Vs. Maytas Infra Ltd. 397/398/ 406&408 Pending

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Sl. No. Court Name of Company Section Remarks3. Company Law Board UOI Vs. Maytas Properties Ltd. 397/398/ 406&408 Pending4. High Court Eveready Industries Ltd 397/398 Pending5. High Court Vikas WSP Ltd. 397/398 Pending6. High Court Morepan Laboratories Ltd. 391/394& 408 Pending7. Supreme Court Morepan Laboratories Ltd. 408 Pending

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, 79 cases have been referred to SFIO for investigation. Out of these, SFIO has submitted investigation reports in 62 cases till 31.03.2011, in one case order for investigation was withdrawn, while two cases have either been stayed or dismissed by Courts and the remaining 14 cases are under investigation. As on 31.03.2011, 834 cases of prosecution have been filed in the different Courts against the persons/entities involved in fraudulent activities. During the year, in 39 cases the accused were convicted by the court and fines imposed. 795 cases which are under progress in different courts are indicated in Table 5.2.

Table 5.2 Details of Investigation cases pending before different courts (as on 31.3.2011)

Sl. No. Name of the Company Pending Cases Total Pending casesCompany Law IPC

(1) (2) (3) (4) (5)1. Daewoo Motors India Ltd. 21 02 232. Design Auto Systems Ltd. 11 02 133. Bonanza Biotech Ltd 16 01 174. Vatsa Corporation Ltd. 106 08 1145. Mardia Chemicals Ltd. 22 01 236. Soundcraft Industries Ltd. 35 09 447. Kolar Biotech Ltd. 24 04 288. Adam Comsof Ltd 21 04 259. DSQ Software Ltd. 23 02 2510 Usha India Ltd 27 07 34

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Sl. No. Name of the Company Pending Cases Total Pending casesCompany Law IPC

(1) (2) (3) (4) (5)11 Malvika Steels Ltd 27 06 3312. Koshika Telecom Ltd 41 03 4413 Chitrakoot Computers 16 02 1814 Classic Credit Ltd 05 01 0615 Classic Shares & Stock Broking Services Ltd 09 -- 0916 Goldfish Computer P Ltd 22 01 2317 KNP Securities Pvt Ltd 15 -- 1518 Luminant Investrade P Ltd 11 -- 1119 Manmandir Estate Dev. 02 01 0320 N H Securities Ltd 24 01 2521 Panther Fincap and Management Services Ltd 24 02 2622 Panther Industrial Products Ltd. 25 -- 2523 Panther Investrade Ltd 14 01 1524 Saimangal Investrade Ltd 18 01 1925 Triumph International Finance India Ltd 10 02 1226 V N Parekh Securities Pvt Ltd 12 -- 1227 Triumph Securities P Ltd 22 01 2328 Nakshatra Software Pvt Ltd. 17 02 1929 Morepen Laboratories Ltd. 12 05 1730 Shonk Tech. Ltd. 17 01 1831 Shonk Tech. Int. Ltd 09 -- 0932 Satyam Computer Services Ltd 07 -- 0733 SHCIL Services Ltd. 09 01 1034. JVG Publication Ltd 05 -- 0535 JVG Steels Ltd. 05 -- 0536 JVG Holdings Ltd 03 -- 0337 JVG Farm Fresh Ltd. 06 -- 0638 JVG Overseas Ltd. 07 -- 0739 JVG Hotels Ltd. 08 -- 0840 JVG Industries Ltd. 10 -- 1041 JVG Techno India Ltd. 06 -- 06

Total 724 71 795

5.4.3 During the year 2010-11, the Ministry has ordered/ referred thirty one (31) 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 01.04.2010 to 31.03.2011 as indicated in table 5.3.

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Table- 5.3 Details of Investigation reports submitted during 1.4.2010 to 31.3.2011

Sl. No. Name of the Company Date of receipt of investigation report1. M/s Nicco UCO Alliance Credit Ltd. 03.06.20102. M/s PSG Developers & Engineers Ltd. 18.11.20103. M/s Information Technologies (India) Ltd. 03.09.20104. M/s Zenet Software Ltd. 21.01.20115. M/s Sugandh Estate and Investment Private Ltd. 21.01.20116. M/s Amadhi Investment Ltd. 21.01.20117. M/s Welvet Financial Advisers Pvt. Ltd. 21.01.20118. M/s A & R Oil Mills Ltd. 31.01.20119. M/s AVI Petroleum Ltd. 31.01.201110. M/s Rishi Spinners Ltd. 31.01.201111. M/s Rishi Financial Services Ltd. 31.01.201112. M/s AVI Telecom Ltd. 31.01.201113. M/s AVI Packaging Ltd. 31.01.2011

5.4.4 Details of progress of investigation as on 31.3.2011, against 14 companies including five (5) 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.

Table- 5.4 Details of pending Investigation cases ordered by the Central Government

Sl. No. Name of the Company Date of Order(1) (2) (3)1 Systems America (India) Ltd. 17.01.20082 Sesa Goa Ltd. 23.10.20093 Sesa Industries Ltd. 23.10.20094 Rishi Oil & Fats Ltd (in Liqn) 05.05.20085 AVI Shoes Ltd (in Liqn) 05.05.20086 Kuber Mutual Benefits Ltd 09.09.20087 Megacity (Bangalore) Developers & Bldgs Ltd. 17.04.20098 AVI Industries Ltd (in Liqn) 13.05.20099 Austral Coke & Project Ltd. 20.01.201010 Global Trust Bank 28.05.201011 Goldquest International Pvt. Ltd. 28.07.201012 Questnet Enterprieses India Pvt Ltd. 28.07.201013 Jayant Vitamins Ltd. 11.08.201014 City Limouzines (India) Ltd. 07.10.2010

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Prosecution

5.5.1 A total of 61149 prosecutions, launched under the Companies Act, were pending in various courts as on 31.3.2010 and 4541 prosecutions (Table 5.5) were instituted during

the year 2010-11 against 1653 companies and their officers. Thus, in all 65690 prosecutions were pursued in the courts during 2010-11. Out of these, 5437 prosecutions were disposed of and 60258 were pending at the end of the year. State-wise details are given in the Statement –XXIV.

Table - 5.5 NatureofDefaultsandnumberofprosecutionsfiledduring2010-11

Sl. No.

Section of the Act or Rule

Nature of Defaults Number of Cases Filed

(1) (2) (3) (4)1 17 Special resolution & Configuration by CLB 12 22 Rectification name of company 23 49 Investments of company to be held in its own name 24 58A(1) Acceptance of Deposits 115 63 Criminal liability for Mis-statements in Prospectus 16 68 Penalty for fraudulently inducing persons to invest money. 17 73 allotment of shares &debentures to be dealt on stock

exchcange2

8 75 Return as to allotments 19 85 Failure to comply with the provision of said section 110 97 Notice of increase of share capital or of members 411 113 Limitation of the time for issue of certificate 212 125 Failure to company with the provision of said section 113 138 Failure to comply with the provision of said section 114 142 Non comliance of registration of change &satisfaction 915 143 Company’s Register of charges 616 146 Registered office of company 817 147 Publication of name by company 1018 149 Restriction on Commencement of business 319 150 Register of Members 220 154 Power to close register of members or debenture holders 421 159 Reg Annual Report 6122 159/162 Annual return to be made by company having a share

capital1472

23 163 place of keeping and inspection for registers and returns 124 165/168 Statutory meeting and statutory report of company 7925 176(2) Notices of AGM was not made with reasonable

prominence4

26 192 Registration of certain resolutions and agreements 5

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Sl. No.

Section of the Act or Rule

Nature of Defaults Number of Cases Filed

(1) (2) (3) (4)27 193 Minutes of proceedings of general meetings and of

Board and other meetings9

28 196 Default in inspection of minutes of general meetings 129 197 Publication of reports of proceedings of general 130 209A Inspection of books of accounts etc. of companies 2431 209(3)B non keeping of books as accurals basis 332 209A(5) Powers of the officer making an Inspection 1133 210 Annual accounts and balance sheets 1234 211 Forms and contents of Balance sheets and profit and loss

account252

35 212 Reg Balance Sheet 236 215 Authentication of B/s & P.L.A/C 137 217 Board’s report 6638 219 Right of member to copies of Balance Sheet and auditors

report1

39 220 Three copies of balance sheet etc. to be filed with Registrar

1981

40 221 Non disclosures of payments of directors 141 224 Auditors Duty 942 227(3) (d) Compliances of accounting standard 2643 233 Penalty of non compliance of auditor with Section 227

and 229p227

44 234 Power of Registrar to call for information or explanation 1745 238 Firm body corporate 546 240 production of documents and evidence 147 269 Appointment of Managing or whole time director or

Manager to require Government Approval only in certain cases

9

48 274 Disqualification of Directors 149 283 vacation of office by directors 150 291 General power of board 151 292 Certain powers to be exercised by board only at meeting 1152 293 Restriction on power of Board 253 295 Loans to directors etc. 454 297 Board’s sanction to be required for certain contracts in

which particular directors are interested12

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Sl. No.

Section of the Act or Rule

Nature of Defaults Number of Cases Filed

(1) (2) (3) (4)55 299 Disclosure of interests by director 556 300 Interested director no. to participate or vote in Boards

proceedings10

57 301 Register of contracts, companies and firms in which Directors are interested

11

58 302 Non disclose to members of directors intrest in contract appointing manager

1

59 303 Register of directors managing agents, secretaries and measurers etc.

7

60 305 failure to company with the provision of said section 761 307 Register of Director’s share holdings etc. 562 372 Purchase of shares by company of other companies 763 383A Certain companies to have secretaries 464 391 Power to compromise or make arrangments with

creditors & members1

65 394 Provision for facilitating reconstrution & amalgation of companies

1

66 614A(2) failure to comply with the provision of said section 567 628 Penalty for false statements 368 629 Penalty for false evidence 169 629A Penalty where no specific penalty is provided elsewhere

in the Act58

70 631 Penalty for improper use of word “Limites” & PA Ltd. 171 Others 29

Total 4541

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Table 5.6 Progress of Prosecutions: 2006-07 to 2010-11

Sl. No.

Subject 2006-07 2007-08 2008-09 2009-10 2010-11

(1) (2) (3) (4) (5) (6) (7)1 Number of companies prosecuted

during the year2668 2140 3616 3196 1653

2 Number of prosecutions started during the year

10601 17080 13971 9021 4541

3 Number of prosecutions pending at the beginning of the year

45705 46837 54294 60303 61149

4 Number of prosecutions disposed during the year

8509 6993 10506 7647 5437

5 Convictions 2273 4272 3751 3716 25186 Number of prosecutions ending in

acquittals310 226 165 417 198

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

4576 2495 2540 3050 2104

8 Number of prosecutions pending at the end of the year

47797 54422 57759 61677 60258

9 Total fine imposed ( in rupees) 5814261 11184020 11058647 9230317 708454210 Total amount awarded as cost to

Registrar (in rupees)2729661 3080607 3234539 2901472 2633641

11 Percentage of conviction to total cases decided

27 61 36 49 46

12 Average number of prosecutions per company prosecuted

3 3 3 2.4 3.3

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

2557.97 2617.98 2948.18 2483.94 2813.56

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

2006-07 to 2010-11 is given in Table 5.6.

Cost Audit

5.6.1 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

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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.

5.6.2 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.

5.6.3 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, 2010 to March, 2011, 131 cost audit orders were issued.

5.6.4 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, 2007 applications were received through e-mode for approval of appointment of cost auditors during the period from April, 2010 to March, 2011. Online approval process resulted in reduction of processing time benefiting the 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.

5.6.5 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 2010 to March, 2011 were 2830.

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Table 5.7 IndustriesinwhichCostAccountingRecordRulesnotifiedunder

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

S. No. Name of the Industries S. No. Name of the Industries1. Aluminum 23. Insecticides2. Batteries - other than Dry Cell Batteries 24. Jute goods3. Bearings 25. Milk food4. Bulk Drugs 26. Mining and metallurgy5. Cement 27. Motor vehicles6. Chemicals 28. Nylon7. Cosmetic & Toiletries 29. Paper8. Cycle 30. Petroleum Industry9. Dry Cell batteries 31. Plantation Products

10. Dyes 32. Polyester11. Electric Cables and Conductors 33. Rayon12. Electric fans 34. Refrigerators13. Electricity Industry 35. Room Air conditioners14. Electric Lamps 36. Shaving Systems15. Electric Motors 37. Soaps and Detergents16. Electronic Products 38. Steel Plants17. Engineering Industries 39. Steel tubes & pipes18. Fertilizers 40. Sugar19. Footwear 41. Telecommunications20. Formulations 42. Textiles21. Industrial Alcohol 43. Tyres and Tubes22. Industrial Gases 44. Vanaspati

5.6.6 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 2010 to March, 2011, 20 such cases of exemption/withdrawal were received and processed.

5.6.7 During the year 2010-11, 364 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, Central Vigilance Commission, Commissioner of Custums, Pune, etc.

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Investor Education and Protection Fund (IEPF)

5.7.1 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.

5.7.2 The Ministry has undertaken various initiatives for increasing the investors’ awareness and education in the year 2010-11, which are as follows:-

(i) The website, namely, www.iepf.gov.in which was launched by the Hon’ble Minister for Corporate Affairs during 2007-08, continues to provide a knowledge sharing platform in the area of financial literacy as a measure of investor awareness and education. The educational contents available in the website www.iepf.gov.in have been originally developed in English. In order to reach out to the large majority of people in the country, the Ministry got its contents translated into Hindi and 11 regional languages, viz. Tamil, Telgu, Kanada, Malayalam, Marathi, Gujarati, Bangla, Oriya, Assamese, Punjabi and Urdu. It is hoped that the

availability of this website in these languages will help a much greater number of investors to understand their rights and responsibility while making investment decisions.

(ii) An “Investor Helpline” www.investorhelpline.in project, which had been launched under IEPF through Midas Touch Investors Association to provide a mechanism for redressal of grievances and to create investor awareness, has been rendering effective service to the investors.

(iii) Further, another website, namely, www.watchoutinvestors.com which is a national registry of economic defaulters and covers information on convictions by various regulatory bodies, has also been rendering effective service to not only investors and prospective investors but also to professionals such as Advocates, Chartered Accountants and Company Secretaries.

(iv) The Ministry organized India Investor Week from July 12–17, 2010 in order to bring a national focus on the subject of investor awareness. The theme of the India Investor Week 2010 was “Informed Investor – An Asset To Corporate India”. The Ministry partnered with the professional institutes, trade and industry chambers, stock exchanges, SEBI, RBI, DPE etc. for organizing a large number of investor awareness programmes throughout the year in order to reach out to the investors. During India Investor Week, five national events were organized in

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five metros, namely, Kolkata, Mumbai, Hyderabad, Bangalore and Chennai. The Ministry’s investor education website, www.iepf.gov.in was launched in Assamese, Bangla, Telgu, Kanada and Tamil by Hon’ble Minister of Corporate Affairs during IIW. Further, a book titled “Investors’ Guide to the Capital Market” and a booklet titled “A Beginner’s Guide to the Capital Market” were also released by the Hon’ble Minister of Corporate Affairs. The booklet “A Beginner’s Guide to the Capital Market” was also translated into various regional languages with the assistance of the participating organizations.

(v) The Ministry also observed “Investor Day” in Bhubaneswar on 28th August, 2010 in partnership with the Department of Public Enterprises of the Government of Orissa. On this occasion, the Ministry’s investor education website, www.iepf.gov.in was launched in Oriya along with the booklet “A Beginner’s Guide to the Capital Market”.

(vi) The initiatives of the Ministry for spreading investor awareness in association with all other Institutes and organizations are a step forward in creating a congenial climate for the growth of the retail informed investors and would eventually contribute towards the growth and stability of the Indian Capital Market.

(vii) The Ministry’s initiative on investor awareness is progressing well. Over 4132 programmes have been organized

in different parts of the country till 31.03.2011 by partner organizations. The financial support was given to only professional institutes, namely ICSI, ICAI and ICWAI.

(viii) The Ministry Organised “India Corporate Week” from December 14 -21, 2010 with the theme “Sustainable Business”. It was inaugurated by Hon’ble Prime Minister on 14th December, 2010 in Vigyan Bhawan, New Delhi. There was also a Panel discussion on the theme by renowned corporate leaders at Vigyan Bhawan itself. On this occasion, Hon’ble Prime Minister simultaneously launched the investors’ education website in English, Hindi and 11 regional languages. He also released the Book titled “INDIA UNLIMITED- A Corporate Journey”.

(ix) The number of registered NGO’s under IEPF has increased to 174 upto 31.03.2011.

(x) The final grant 2010-11 under IEPF Scheme is Rs. 4,93,89,000/-. It is pointed out that the entire amount was spent and the unspent balance is Nil.

Investor Grievance Management Cell

5.8.1 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

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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

5.8.2 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.

5.8.3 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.

5.8.4 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.

5.8.5 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

5.9.1 A Central coordination and Monitoring Committee (CMC), co-chaired by Secretary, Ministry of Corporate Affairs and Chairman, SEBI was set up on 27.2.1999 to look into issues relating to companies that had come out

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with public issue and disappeared by way of (i) non-maitenance of their registered office; (ii) non-filing of statutory returns/listing requirements with the concerned ROCs/Stock Exchanges for a period of two years; and (iii) non-correspondence between the Exchange and a company for a long time and to monitor the progress of action taken against them. Specific criteria have been adopted by CMC for identification of such vanishing companies.

5.9.2 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 and 32 vanishing companies were identified under liquidation and as such deleted from the list of vanishing companies. The total number of vanishing companies as on 31.03.2011 stood at 87.

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Companies under Winding up/Liquidation

6.1 A total of 5918 companies were under liquidation as on 31.03.2011 as compared to 6757 as on 31.3.2010 and 6155 as on 31.03.2009. Out of 5918 companies under liquidation at the end of 2010-11, 4862

Chapter – vIlIquIdatIon of CompanIeS

companies were under consideration of Courts, whereas 978 companies were under Voluntary consideration of Members and remaining 78 of Creditors. The distribution of companies under liquidation by their mode of winding up as on 31.03.2009, 31.03.2010 and 31.03.2011 is given in table 6.1:-

Table 6.1 Companies under Winding up/Liquidation

Sl. No.

Companies under

liquidation as on

Subject/Mode

Members Voluntary

winding up

Creditors Voluntary

winding up

Winding up by Court

Winding up subject to supervision of

Court

Total

(1) (2) (3) (4) (5) (6) (7)1. 31st March,

20091282 112 4758 3 6155

2. 31st March, 2010

1357 100 5297 3 6757

3. 31st March, 2011

978 78 4862 0 5918

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Chapter – vIImobIlIzatIon of fundS throuGh varIouS SourCeS

by the Corporate SeCtor

Resources Raised by Corporate Sector

7.1.1 During 2010-11, as per provisional estimates, there has been an increase in the total resource mobilization by Corporate Sector to the extent of Rs.16204 crore as compared to previous year; comprising of an increase of Rs.3103 crore in equity issues and balance of Rs.13101 crore in debt issues. Total resources

mobilsed during 2010-11 the stands at Rs. 286394 crores as against Rs. 270190 crore in 2009-10. In 2010 -11, resources raised through equity issues stands at Rs. 58157 crore. Of the Debt issues, Public & Rights Issue stands at Rs. 9451 crore and Private placement at Rs. 218785 crore, Year-wise resources raised by corporate sector from 2006-07 to 2010-11 is given in Table 7.1.

Table 7.1 Year-wise Resources Raised by Corporate Sector (2006-07 to 2010-11)

(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)

2006-07 32901 605 145571 179078

2007-08 79739 7290 212725 299754

2008-09 14272 1500 202745 218517

2009-10 55054 2500 212635 270190

2010-11(P) 58157 9451 218785 286394

P: Provisional* Includes CCPS and Offer for Sale.** Includes negligible amount of equity.Source: RBI, SEBI.

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II

Chart 7.1

mobilized through new Capital Issues increased to Rs. 16149 crore in 2010-11 from Rs. 14595 crore in 2009-10. Year-wise resources mobilized from 2006-07 to 2010-11 is given in Table 7.2.

7.1.2 As per provisional estimates, the total resources mobilized by Non-Government Public Ltd. Companies marginally declined to Rs. 24830 crore in 2010-11from Rs. 25479 crore in previous year, whereas the resources

Table 7.2 Year-wise Capital Issues by Non-Government Public Limited Companies

(2006-07 to 2010-11)(Rs. crore)

Year Total No. of Issues Amount No. of New Issues Amount

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

2006-07 117 30603 72 25662

2007-08 115 63638 80 37088

2008-09 45 14671 21 2033

2009-10 68 25479 36 14595

2010-11(P) 70 24830 49 16149

P: Provisional Source: RBI

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Chart 7.2

7.1.3 As per provisional estimates, the resources mobilized from Primary market in 2010-11 increased to Rs. 67609 crore from Rs. 57555 crore in the previous year of which Rs.58105 crore was through Public Issue and Rs. 9503 crore through Rights Issue. The break-up by Issuer type, amount stands at Rs. 22599 crore for Listed companies and Rs. 35559 crore for IPOs. Of the total resources mobilized in 2010-11, Rs. 57617 crore were raised through equities at premium. It may be observed that as per provisional estimates, the resources mobilized through Public Issue increased to Rs 58105 crore in 2010-11 from 49236 in the previous year and resources mobilized

through Rights Issue increased to Rs. 9503 in 2010-11 from Rs 8319 crore in the previous year. However, resources mobilized by listed companies in 2010-11 registered at Rs.22599 crore showed a decline from Rs. 30359 crore in 2009-10. Resources mobilised through Initial Public Offers (IPOs) in 2010-11 stood at Rs. 35559 crore which recorded an increase of Rs.10,863 crore from Rs. 24696 crore in 2009-10. During the year the amount raised through Equity Issues at premium increased by Rs. 2751 crore from the amount raised in previous year. Year-wise No. of Issues and resources mobilized from primary market from 2006-07 to 2010-11 is given in Table 7.3.

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Table 7.3 Year-wise No. of Issues and 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 Amt2006-07 124 33508 85 29796 39 3710 47 5002 77 28504 2 12 119 328892007-08 124 87029 92 54511 32 32518 39 44434 85 42595 7 387 113 793522008-09 47 16220 22 3582 25 12637 25 12637 21 2082 5 96 40 141762009-10 76 57555 47 49236 29 8319 34 30359 39 24696 1 9 71 548662010-11(P) 91 67609 68 58105 23 9503 28 22599 53 35559 2 50 78 57617

P : Provisional 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. Source: SEBI

Chart 7.3

7.1.4 Industry wise Classification of Capital raised during the last three years from 2008-09 to 2010-11 is given in Table 7.4. It may be observed that resources raised by Banking Industry/FI in 2010-11 increased to Rs. 17248 as compared to Rs. 3138 in the previous year. Resources raised by Food Processing Industries in 2010-11 increased by Rs. 802 crore as

compared to 2009-10 and in Power Industry resources was not raised in 2010-11 decreased by Rs. 15824 crore as compared to 2009-10. With the exception of Electronic, Plastic, Telecommunication, Information Technology and Paper & Pulp Industries there was increase in resource mobilization in all other Industries in 2010-11 as compared to previous year.

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Table 7.4 IndustrywiseClassificationofCapitalRaised

(Rs. crore)

Sl.No. Industry 2008-09 2009-10 2010-11(P)(1) (2) (3) (4) (5)

No. Amount No. Amount No. Amount1. Banking/FIs 0 0 6 3138 18 172482. Cement & Construction 3 80 8 2780 3 28413. Chemical 4 218 1 36 5 2474. Electronics 0 0 1 1156 0 05. Engineering 0 0 1 50 5 13946. Entertainment 2 1156 9 2461 4 7157. Finance 2 466 2 1826 3 22108. Food Processing 0 0 2 443 1 12459. Healthcare 3 144 2 1059 3 29210. Information Technology 1 42 4 540 1 17011. Paper & Pulp 0 0 1 35 0 012. Plastic 0 0 1 39 0 013. Power 2 958 6 25293 4 946914. Printing 0 0 0 0 1 5215. Telecommunication 2 100 0 0 0 016. Textiles 5 710 3 237 3 20717. Others 22 10845 29 18461 40 31519

Total 46 14719 76 57554 91 67609

P : Provisional Source: SEBI

Chart 7.4

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7.1.5 A total of Rs. 67609 crore was raised in 2010-11 as compared to Rs. 57554 crore in 2009-10. Higher resource mobilization is observed for large issues. The size wise break-up reveals that an amount of Rs 65735 crore was raised in 2010-11 through issue size exceeding Rs. 100 crore whereas amount raised through issue size of Rs.10 crore-<50 crore and Rs.50 crore-<100 crore were Rs. 455 crore and Rs.

1406 crore respectively. It may be observed that small sized issues were not encouraging in 2010-11 as in previous years. In 2010-11, there was only 1 issue by companies in the category of less than Rs 5 crore and 2 issue in the category of Rs. 5 crore-<Rs. 10 crore. Size-wise Classification of Capital raised during the last five years from 2006-07 to 2010-11 is given in Table 7.5.

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.*2006-07 124 33508 3 10 6 45 40 1129 31 2386 44 299382007-08 124 87029 4 16 1 6 33 920 25 1669 61 844182008-09 47 16220 1 3 1 7 21 509 6 445 18 152552009-10 76 57554 1 2 3 24 18 596 9 636 45 562982010-11(P) 91 67609 1 2 2 11 13 455 20 1406 55 65735

P : Provisional Source: SEBI Amt.*= Amount

Chart 7.5

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7.1.6 It is observed that during the year 2010-11, the total amount of resources mobilized by Public Sector stood at Rs.38223 crore has been higher than the amount of Rs.25078 crore mobilized in the previous year. In contrast, the total amount of Rs. 29385 crore mobilized by Private Sector in 2010-11, registered a decline

from Rs.32477 crore in 2009-10. It may also be observed that in the year 2010-11, the share of Public Sector in the total resource mobilization has been 56.5%. Sector-wise distribution of Capital Mobilized from 2006-07 to 2010-11 is given in Table 7.6 (i).

Table 7.6 (i) Sector-wise Distribution of Capital Mobilized

(Amount in Rs. crore)

Year Total SectorPrivate Public

No Amount No Amount No Amount(1) (2) (3) (4) (5) (6) (7)

2006-07 124 33508 122 31728 2 17792007-08 124 87029 120 67311 4 197182008-09 47 16220 47 16620 0 02009-10 76 57555 71 32477 5 250782010-11(P) 91 67609 77 29385 14 38223

Source: SEBI

Chart 7.6 (i)

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7.1.7 As regards to resources mobilized by various regions in the current year, the highest mobilization has been observed by Western Region (WR) (Rs. 21479 crore) followed by Eastern Region (ER) (Rs.17190 crore) by

Northern Region (NR) (Rs. 16356 crore) and Southern Region (SR) (Rs. 10097 crore). Region–wise distribution of Capital Mobilized from 2006-07 to 2010-11 is given in Table 7.6 (ii).

Table 7.6 (ii) Region –wise Distribution of Capital Mobilized

(Amount in Rs. crore)

Year Total RegionNorthern Eastern Western Southern

No Amount No Amount No Amount No Amount No Amount(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

2006-07 124 33508 28 3673 5 165 55 22964 36 67062007-08 124 87029 22 16526 11 1093 55 64139 36 52702008-09 47 16220 6 2902 5 315 21 11202 15 18002009-10 76 57555 17 24714 10 4175 36 15796 13 128702010-11(P) 91 67609 20 16356 8 17190 35 21479 27 10097

Source: SEBI

Chart 7.6 (ii)

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7.1.8 Year-wise Foreign Investment Inflows in India from 2006-07 to 2010-11 is 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)

2006-07 135080 29829 103367 22826 31713 70032007-08 249921 62106 140180 34835 109741 272712008-09 110123 23983 173741 37838 (-)63618 (-)138552009-10(P) 332575 70139 179059 37763 153516 323762010-11(P) 281897 61851 138462 30380 143435 31471

P: ProvisionalNote:- Direct investment data for 2006-07 include swap of shares of 3.1 billion. Source: RBI

Chart 7.7

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7.1.9 Trends in FII Investment in India during the years from 2006-07 to 2010-11(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 62006-07 520506 489665 30841 6821 524782007-08 948018 881839 66179 16442 689192008-09 614576 660386 (-)45811 (-)9837 590822009-10 846438 703780 142658 30253 893352010-11(P) 992599 846161 146438 32226 121561

P: ProvisionalSource: SEBI

Chart 7.8

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Chapter – vIIIfInanCIal aGGreGateS of Corporate SeCtor

8.1.1 Corporate sector today is one of the major driving forces of economic growth in 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. The share of private corporate sector to gross domestic savings was in the range of 25 per cent during the Eleventh Five Year Plan.

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 2010-11, data of 582816 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.

AppendixStAtiSticAl StAtementS

(i to xxiV)

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StAtement- i Registration of new companies limited by Shares during 2010-11:

(Region/State-wise distribution) (Rs. in crore)

Region/State no. of companies Authorised capitalpublic private total public private total

(1) (2) (3) (4) (5) (6) (7)noRtHeRn ReGionHARYANA 61 2041 2102 125.40 750.15 875.55HIMACHAL PRADESH 8 254 262 5.90 25.54 31.44JAMMU & KASHMIR 1 145 146 5.00 36.41 41.41PUNJAB 93 1023 1116 23103.35 185.02 23288.37RAJASTHAN 102 3179 3281 171.35 255.34 426.69UTTAR PRADESH 166 3854 4020 386.50 555.47 941.97UTTRAKHAND 10 331 341 12.40 61.82 74.22CHANDIGARH 22 678 700 8.35 85.34 93.69DELHI 427 15117 15544 2653.69 4897.75 7551.44total 890 26622 27512 26471.94 6852.84 33324.78eASteRn ReGionARUNACHAL PRADESH 0 24 24 0.00 7.50 7.50ASSAM 71 505 576 40.05 116.15 156.20BIHAR 28 1271 1299 90.50 163.17 253.67JHARKHAND 21 659 680 28.05 128.44 156.49MANIPUR 2 15 17 5.50 13.26 18.76MEGHALAYA 6 54 60 8.15 11.39 19.54MIZORAM 0 5 5 0.00 2.10 2.10NAGALAND 0 22 22 0.00 10.47 10.47ORISSA 141 1442 1583 104.57 359.23 463.80TRIPURA 4 28 32 0.75 13.20 13.95WEST BENGAL 652 15805 16457 899.40 2068.16 2967.56total 925 19830 20755 1176.97 2893.07 4070.04WeSteRn ReGionCHHATISGARH 28 659 687 25.20 107.00 132.20GUJARAT 158 4391 4549 295.82 904.98 1200.80MADHYA PRADESH 114 2239 2353 36.06 1235.31 1271.37MAHARASHTRA 440 16360 16800 1578.75 5274.92 6853.67DADRA & N HAVELI 1 25 26 500.00 5.13 505.13DAMAN & DIU 0 9 9 0.00 3.97 3.97GOA 3 299 302 6.05 79.94 85.99total 744 23982 24726 2441.88 7611.25 10053.13SoUtHeRn ReGionA & N ISLAND 0 18 18 0.00 11.19 11.19ANDHRA PRADESH 176 5640 5816 3107.08 5110.32 8217.40KARNATAKA 76 4695 4771 3681.28 2528.50 6209.78KERALA 52 2242 2294 3623.85 497.37 4121.22TAMIL NADU 172 5446 5618 571.88 2285.20 2857.08PUDUCHERRY 1 125 126 0.10 52.25 52.35LAKSHDWEEP 0 1 1 0.00 0.01 0.01total 477 18167 18644 10984.19 10484.84 21469.03Grand total 3036 88601 91637 41074.98 27842.00 68916.98

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StAtement- ii Registration of new Government companies limited by Shares during 2010-11:

(Region/State-wise distribution)(Rs. in crore)

Region/State no. of companies Authorised capital totalpublic private total public private

(1) (2) (3) (4) (5) (6) (7)noRtHeRn ReGionHARYANA 0 0 0 0.00 0.00 0.00HIMACHAL PRADESH 0 0 0 0.00 0.00 0.00JAMMU & KASHMIR 1 2 3 5.00 2.00 7.00PUNJAB 2 0 2 23000.00 0.00 23000.00RAJASTHAN 7 0 7 125.25 0.00 125.25UTTAR PRADESH 6 0 6 269.00 0.00 269.00UTTRAKHAND 1 0 1 10.00 0.00 10.00CHANDIGARH 0 0 0 0.00 0.00 0.00DELHI 4 1 5 1215.05 100.00 1315.05total 21 3 24 24624.30 102.00 24726.30eASteRn ReGionARUNACHAL PRADESH 0 0 0 0.00 0.00 0.00ASSAM 0 0 0 0.00 0.00 0.00BIHAR 2 0 2 60.00 0.00 60.00JHARKHAND 1 1 2 5.00 5.00 10.00MANIPUR 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 0 0 0 0.00 0.00 0.00TRIPURA 0 0 0 0.00 0.00 0.00WEST BENGAL 2 2 4 150.00 5.01 155.01total 5 3 8 215.00 10.01 225.01WeSteRn ReGionCHHATISGARH 3 0 3 5.20 0.00 5.20GUJARAT 3 0 3 20.00 0.00 20.00MADHYA PRADESH 0 0 0 0.00 0.00 0.00MAHARASHTRA 1 2 3 5.00 16.00 21.00DADRA & 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 0.00total 7 2 9 30.20 16.00 46.20SoUtHeRn ReGionA & N ISLAND 0 0 0 0.00 0.00 0.00ANDHRA PRADESH 0 3 3 0.00 100.11 100.11KARNATAKA 1 1 2 5.00 5.00 10.00KERALA 2 1 3 3515.00 25.00 3540.00TAMIL NADU 2 0 2 10.00 0.00 10.00PUDUCHERRY 0 0 0 0.00 0.00 0.00LAKSHDWEEP 0 0 0 0.00 0.00 0.00total 5 5 10 3530.00 130.11 3660.11Grand total 38 13 51 28399.50 258.12 28657.62

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StAtement- iii Registration of new non-Government companies limited by Shares during 2010-11:

(Region/State-wise distribution)(Rs. in crore)

Region/State no. of companies Authorised capital totalpublic private total public private

(1) (2) (3) (4) (5) (6) (7)noRtHeRn ReGionHARYANA 61 2041 2102 125.40 750.15 875.55HIMACHAL PRADESH 8 254 262 5.90 25.54 31.44JAMMU & KASHMIR 0 143 143 0.00 34.41 34.41PUNJAB 91 1023 1114 103.35 185.02 288.37RAJASTHAN 95 3179 3274 46.10 255.34 301.44UTTAR PRADESH 160 3854 4014 117.50 555.47 672.97UTTRAKHAND 9 331 340 2.40 61.82 64.22CHANDIGARH 22 678 700 8.35 85.34 93.69DELHI 423 15116 15539 1438.64 4797.75 6236.39total 869 26619 27488 1847.64 6750.84 8598.48eASteRn ReGionARUNACHAL PRADESH 0 24 24 0.00 7.50 7.50ASSAM 71 505 576 40.05 116.15 156.20BIHAR 26 1271 1297 30.50 163.17 193.67JHARKHAND 20 658 678 23.05 123.44 146.49MANIPUR 2 15 17 5.50 13.26 18.76MEGHALAYA 6 54 60 8.15 11.39 19.54MIZORAM 0 5 5 0.00 2.10 2.10NAGALAND 0 22 22 0.00 10.47 10.47ORISSA 141 1442 1583 104.57 359.23 463.80TRIPURA 4 28 32 0.75 13.20 13.95WEST BENGAL 650 15803 16453 749.40 2063.15 2812.55total 920 19827 20747 961.97 2883.06 3845.03WeSteRn ReGionCHHATISGARH 25 659 684 20.00 107.00 127.00GUJARAT 155 4391 4546 275.83 904.98 1180.81MADHYA PRADESH 114 2239 2353 36.06 1235.31 1271.37MAHARASHTRA 439 16358 16797 1573.75 5258.92 6832.67DADRA & N HAVELI 1 25 26 500.00 5.13 505.13DAMAN & DIU 0 9 9 0.00 3.97 3.97GOA 3 299 302 6.05 79.94 85.99total 737 23980 24717 2411.69 7595.25 10006.94SoUtHeRn ReGionA & N ISLAND 0 18 18 0.00 11.19 11.19ANDHRA PRADESH 176 5637 5813 3107.07 5010.22 8117.29KARNATAKA 75 4694 4769 3676.28 2523.50 6199.78KERALA 50 2241 2291 108.85 472.37 581.22TAMIL NADU 170 5446 5616 561.88 2285.20 2847.08PUDUCHERRY 1 125 126 0.10 52.24 52.34LAKSHDWEEP 0 1 1 0.00 0.01 0.01total 472 18162 18634 7454.18 10354.73 17808.91Grand total 2998 88588 91586 12675.48 27583.88 40259.36

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StAtement - iV non-Government companies which ceased working:

(both liquidated and struck-off during 2010-11): (Region/State-wise distribution)

(Rs. in crore)

Region/State no. of companies paid up capital totalpublic private total public private

(1) (2) (3) (4) (5) (6) (7)noRtHeRn ReGionHARYANA 5 48 53 0.04 0.39 0.43HIMACHAL PRADESH 17 100 117 1.63 2.89 4.52JAMMU & KASHMIR 2 47 49 0.00 0.48 0.48PUNJAB 63 630 693 7.18 24.57 31.75RAJASTHAN 54 844 898 2.31 13.50 15.81UTTAR PRADESH 554 2661 3215 2.01 6.72 8.73UTTRAKHAND 38 206 244 0.88 0.24 1.12CHANDIGARH 36 358 394 24.87 11.71 36.58DELHI 93 593 686 9.57 12.26 21.83total 862 5487 6349 48.49 72.76 121.25eASteRn ReGionARUNACHAL PRADESH 1 3 4 0.00 0.54 0.54ASSAM 1 38 39 0.05 0.58 0.63BIHAR 42 205 247 1.07 4.92 5.99JHARKHAND 5 118 123 1.04 3.78 4.82MANIPUR 0 0 0 0.00 0.00 0.00MEGHALAYA 0 2 2 0.00 0.01 0.01MIZORAM 0 2 2 0.00 0.02 0.02NAGALAND 0 4 4 0.00 0.04 0.04ORISSA 37 594 631 1.05 14.08 15.13TRIPURA 0 0 0 0.00 0.00 0.00WEST BENGAL 298 2388 2686 263.26 1342.97 1606.23total 384 3354 3738 266.47 1366.94 1633.41WeSteRn ReGionCHHATISGARH 4 88 92 0.39 2.02 2.41GUJARAT 7 418 425 1.78 5.18 6.96MADHYA PRADESH 16 278 294 4.02 4.33 8.35MAHARASHTRA 284 5504 5788 23.67 127.39 151.06DADRA & N HAVELI 0 0 0 0.00 0.00 0.00DAMAN & DIU 0 0 0 0.00 0.00 0.00Goa 1 11 12 0.05 0.17 0.22total 312 6299 6611 29.91 139.09 169.00SoUtHeRn ReGionA & N ISLAND 0 0 0 0.00 0.00 0.00ANDHRA PRADESH 0 0 0 0.00 0.00 0.00KARNATAKA 10 1214 1224 4.80 14.27 19.07KERALA 132 1263 1395 13.79 32.57 46.36TAMIL NADU 180 515 695 30.71 17.22 47.93PUDUCHERRY 1 36 37 0.10 1.82 1.92LAKSHDWEEP 0 0 0 0.00 0.00 0.00total 323 3028 3351 49.40 65.88 115.28Grand total 1881 18168 20049 394.27 1644.67 2038.94

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StAtement - V companies limited by Shares at work as on 31st march, 2011:

(State-wise distribution)

Sl. no. StAte / Ut no. of companiespublic limited private limited total

(1) (2) (3) (4) (5)1 ANDHRA PRADESH 3901 37132 410332 ARUNACHAL PRADESH 21 211 2323 ASSAM 647 5216 58634 BIHAR 467 6614 70815 CHHATISGARH 351 3776 41276 GOA 190 4389 45797 GUJARAT 4811 35205 400168 HARYANA 828 8860 96889 HIMACHAL PRADESH 208 1888 209610 JAMMU & KASHMIR 101 1295 139611 JHARKHAND 218 3710 392812 KARNATAKA 2046 34022 3606813 KERALA 1281 15207 1648814 MADHYA PRADESH 1255 12096 1335115 MAHARASHTRA 10897 134452 14534916 MANIPUR 25 114 13917 MEGHALAYA 120 496 61618 MIZORAM 9 39 4819 NAGALAND 16 170 18620 ORISSA 783 7545 832821 PUNJAB 1547 10155 1170222 RAJASTHAN 1587 24189 2577623 TAMIL NADU 5555 45538 5109324 TRIPURA 25 144 16925 UTTAR PRADESH 2151 21606 2375726 UTTRAKHAND 165 1776 194127 WEST BENGAL 8140 95508 10364828 DELHI 11432 137248 14868029 A & N ISLAND 2 94 9630 CHANDIGARH 703 4809 551231 DAMAN & DIU 44 120 16432 D & N HAVELI 53 201 25433 LAKSHDWEEP 0 10 1034 PUDUCHERRY 67 1074 1141

total 59646 * 654909 ** 714555 ***

* Excludes 21909 dormant companies.** Excludes 148404 dormant companies*** Excludes 170313 dormant companies

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StAtement- Vi Government companies limited by Shares at work as on 31st march, 2011:

(State-wise distribution)

Sl. no. StAte / Ut no. of companiespublic limited private limited total

(1) (2) (3) (4) (5)1 ANDHRA PRADESH 38 30 682 ARUNACHAL PRADESH 1 3 43 ASSAM 24 15 394 BIHAR 27 4 315 CHHATISGARH 15 4 196 GOA 11 3 147 GUJARAT 65 3 688 HARYANA 13 2 159 HIMACHAL PRADESH 10 8 1810 JAMMU & KASHMIR 11 4 1511 JHARKHAND 15 8 2312 KARNATAKA 66 16 8213 KERALA 65 30 9514 MADHYA PRADESH 47 11 5815 MAHARASHTRA 107 59 16616 MANIPUR 1 0 117 MEGHALAYA 8 6 1418 MIZORAM 1 2 319 NAGALAND 1 2 320 ORISSA 44 6 5021 PUNJAB 8 3 1122 RAJASTHAN 50 2 5223 TAMIL NADU 59 14 7324 TRIPURA 5 4 925 UTTAR PRADESH 83 8 9126 UTTRAKHAND 16 2 1827 WEST BENGAL 68 24 9228 DELHI 107 29 13629 A & N ISLAND 1 1 230 CHANDIGARH 18 9 2731 DAMAN & DIU 1 0 132 D & N HAVELI 2 0 233 LAKSHDWEEP 0 1 134 PUDUCHERRY 0 15 15

total 988 * 328 ** 1316 ***

* Excludes 221 dormant companies.** Excludes 78 dormant companies.*** Excludes 299 dormant companies.

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StAtement- Vii non-Government companies limited by Shares at work as on 31st march, 2011:

(State-wise distribution)

Sl. no. StAte / Ut no. of companiespublic limited private limited total

(1) (2) (3) (4) (5)1 ANDHRA PRADESH 3863 37102 409652 ARUNACHAL PRADESH 20 208 2283 ASSAM 623 5201 58244 BIHAR 440 6610 70505 CHHATISGARH 336 3772 41086 GOA 179 4386 45657 GUJARAT 4746 35202 399488 HARYANA 815 8858 96739 HIMACHAL PRADESH 198 1880 207810 JAMMU & KASHMIR 90 1291 138111 JHARKHAND 203 3702 390512 KARNATAKA 1980 34006 3598613 KERALA 1216 15177 1639314 MADHYA PRADESH 1208 12085 1329315 MAHARASHTRA 10790 134393 14518316 MANIPUR 24 114 13817 MEGHALAYA 112 490 60218 MIZORAM 8 37 4519 NAGALAND 15 168 18320 ORISSA 739 7539 827821 PUNJAB 1539 10152 1169122 RAJASTHAN 1537 24187 2572423 TAMIL NADU 5496 45524 5102024 TRIPURA 20 140 16025 UTTAR PRADESH 2068 21598 2366626 UTTRAKHAND 149 1774 192327 WEST BENGAL 8072 95484 10355628 DELHI 11325 137219 14854429 A & N ISLAND 1 93 9430 CHANDIGARH 685 4800 548531 DAMAN & DIU 43 120 16332 D & N HAVELI 51 201 25233 LAKSHDWEEP 0 9 934 PUDUCHERRY 67 1059 1126

total 58658 * 654581 ** 713239 ***

* Excludes 21688 dormant companies.** Excludes 148326 dormant companies.*** Excludes 170014 dormant companies.

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StAtement- Viii companies limited by Shares at work as on 31st march, 2011:

(distribution by industrial Activity)

Sl.no. Industrial Classification no. of companies

public limited private limited total

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

1 Agriculture & Allied Activites 2264 15134 17398

2 Mining & Quarrying 729 8244 8973

3 Manufacturing 18807 152635 171442

4 Electricity, Gas & Water Companies

1605 7031 8636

5 Construction. 4199 71137 75336

6 Trade, Hotels and Restaurants 5687 110672 116359

7 Transport, Storage & Communication

1397 22095 23492

8 Finance,Insurance,Real Estate & Business Services

16707 191566 208273

9 Community, Personal & Social Services

2817 35978 38795

10 Unclassified 5434 40417 45851

total 59646* 654909** 714555***

* Excludes 21909 dormant companies.** Excludes 148404 dormant companies.*** Excludes 170313 dormant companies

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StAtement- ix Government companies limited by Shares at work as on 31st march, 2011:

(distribution by industrial Activity)

Sl.no. Industrial Classification no. of companies

public limited private limited total

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

1 Agriculture & Allied Activites 54 25 79

2 Mining & Quarrying 46 26 72

3 Manufacturing 246 84 330

4 Electricity, Gas & Water Companies

160 14 174

5 Construction. 65 27 92

6 Trade, Hotels and Restaurants 65 31 96

7 Transport,Storage & Communication

69 14 83

8 Finance,Insurance,Real Estate & Business Services

129 52 181

9 Community, Personal & Social Services

84 35 119

10 Unclassified 70 20 90

total 988* 328** 1316***

* Excludes 221 dormant companies.** Excludes 78 dormant companies.*** Excludes 299 dormant companies

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DIX

StAtement- x non-Government companies limited by shares at work as on 31st march, 2011:

(distribution by industrial Activity)

Sl.no. Industrial Classification no. of companies

public limited private limited total

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

1 Agriculture & Allied Activites 2210 15109 17319

2 Mining & Quarrying 683 8218 8901

3 Manufacturing 18561 152551 171112

4 Electricity, Gas & Water Companies

1445 7017 8462

5 Construction. 4134 71110 75244

6 Trade, Hotels and Restaurants 5622 110641 116263

7 Transport,Storage & Communication

1328 22081 23409

8 Finance, Insurance, Real Estate & Business Services

16578 191514 208092

9 Community, Personal & Social Services

2733 35943 38676

10 Unclassified 5364 40397 45761

total 58658* 654581** 713239***

* Excludes 21688 dormant companies.** Excludes 148326 dormant companies.*** Excludes 170014 dormant companies.

87

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IX

StAtement- xi companies at work 1956-57 to 2010-11

As on31st

march

companies limited by Shares no. of companiesGovernment companies non-Government

companiestotal companies companies

with unlimited liability

(no.)

companies limited by Guarantee

and Association

not for profit

Foreign companies as defined under Sec. 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 26092009 1591 229939*(1372) 785183 689004*(642023) 786774 918943*(643395) 639 13014 2903

2010(R) 1642 277258*(1088) 834218 867867*(519973) 835860 1145125*(521061) 678 7577 30502011(P) 1316 303740*(1092) 713239 953500*(581724) 714555 1257240*(582816) 437 3600 3127

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

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DIX

StAtement - xii paid-up capital of companies limited by Shares as on 31st march, 2010:

(State-wise distribution )(Revised)

(Rs. in 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 3126 39101.05 22094 32550.90 25220 71651.952 ARUNACHAL PRADESH 17 57.68 105 47.29 122 104.973 ASSAM 448 3075.85 3351 1836.28 3799 4912.134 BIHAR 306 625.33 4195 896.35 4501 1521.685 CHHATISGARH 298 3168.67 2672 1582.81 2970 4751.486 GOA 154 1640.89 2917 1408.75 3071 3049.647 GUJARAT 3254 69200.17 25762 17615.42 29016 86815.598 HARYANA 696 27351.81 5446 8520.27 6142 35872.089 HIMACHAL PRADESH 183 9904.52 1311 1381.28 1494 11285.80

10 JAMMU & KASHMIR 79 294.24 844 286.95 923 581.1911 JHARKHAND 158 5749.00 2517 2929.12 2675 8678.1212 KARNATAKA 1684 45082.66 22627 30001.83 24311 75084.4913 KERALA 1021 6219.20 10030 5774.44 11051 11993.6414 MADHYA PRADESH 964 11762.44 8344 3526.44 9308 15288.8815 MAHARASHTRA 9483 166101.82 98473 103041.37 107956 269143.1916 MANIPUR 9 117.46 43 20.33 52 137.7917 MEGHALAYA 98 3703.24 318 369.71 416 4072.9518 MIZORAM 5 20.91 8 25.26 13 46.1719 NAGALAND 13 76.69 72 21.05 85 97.7420 ORISSA 548 8425.89 5076 2121.46 5624 10547.3521 PUNJAB 1357 9662.20 8073 3315.40 9430 12977.6022 RAJASTHAN 1133 16280.60 16836 4118.03 17969 20398.6323 TAMIL NADU 4092 54555.40 30533 38902.61 34625 93458.0124 TRIPURA 14 406.52 71 74.16 85 480.6825 UTTAR PRADESH 1824 41436.53 15166 5347.13 16990 46783.6626 UTTRAKHAND 147 4911.97 1144 545.92 1291 5457.8927 WEST BENGAL 6815 45996.64 73201 33728.99 80016 79725.6328 DELHI 10267 155577.52 106316 106679.06 116583 262256.5829 A & N ISLAND 2 4.59 48 16.81 50 21.4030 CHANDIGARH 615 2511.00 3593 1197.16 4208 3708.1631 DAMAN & DIU 40 379.62 86 159.67 126 539.2932 D & N HAVELI 49 1979.22 147 138.44 196 2117.6633 LAKSHDWEEP 0 0.00 5 6.54 5 6.5434 PUDUCHERRY 56 258.70 682 1298.06 738 1556.76

totAl 48955 735640.03 472106 409485.29 521061 1145125.32

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

89

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IX

StAtement - xiii paid-up capital of Government companies limited by Shares as on 31st march, 2010:

(State-wise distribution )(Revised)

(Rs. in 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 31 6224.58 14 8099.36 45 14323.942 ARUNACHAL PRADESH 1 5.00 3 3.16 4 8.163 ASSAM 23 1617.70 14 421.18 37 2038.884 BIHAR 14 182.03 4 104.33 18 286.365 CHHATISGARH 11 52.33 4 388.00 15 440.336 GOA 11 215.00 1 0.62 12 215.627 GUJARAT 53 30865.68 1 0.01 54 30865.698 HARYANA 13 14477.46 2 117.08 15 14594.549 HIMACHAL PRADESH 8 4236.91 8 636.08 16 4872.9910 JAMMU & KASHMIR 9 188.34 2 5.01 11 193.3511 JHARKHAND 12 3161.43 7 2130.35 19 5291.7812 KARNATAKA 58 22596.89 6 12.68 64 22609.5713 KERALA 59 2067.55 25 578.36 84 2645.9114 MADHYA PRADESH 37 8135.42 9 242.99 46 8378.4115 MAHARASHTRA 96 24457.21 45 516.60 141 24973.8116 MANIPUR 2 60.40 0 0.00 2 60.4017 MEGHALAYA 4 3282.72 6 103.51 10 3386.2318 MIZORAM 1 15.78 2 19.79 3 35.5719 NAGALAND 1 12.02 2 1.70 3 13.7220 ORISSA 36 3156.79 3 65.24 39 3222.0321 PUNJAB 6 600.66 2 0.26 8 600.9222 RAJASTHAN 38 9244.79 2 24.06 40 9268.8523 TAMIL NADU 50 8473.77 9 60.36 59 8534.1324 TRIPURA 5 54.26 3 57.62 8 111.8825 UTTAR PRADESH 72 29423.70 5 19.57 77 29443.2726 UTTRAKHAND 13 4189.27 2 7.01 15 4196.2827 WEST BENGAL 60 15977.53 19 732.88 79 16710.4128 DELHI 100 66381.90 18 2384.21 118 68766.1129 A & N ISLAND 1 1.00 1 10.97 2 11.9730 CHANDIGARH 18 407.95 8 105.63 26 513.5831 DAMAN & DIU 1 9.96 0 0.00 1 9.9632 D & N HAVELI 1 4.93 0 0.00 1 4.9333 LAKSHDWEEP 0 0.00 1 6.50 1 6.5034 PUDUCHERRY 0 0.00 15 621.72 15 621.72

t otAl 845 259780.96 243 17476.84 1088 277257.80

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

90

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DIX

StAtement - xiV paid-up capital of non-Government companies limited by Shares as on 31st march, 2010:

(State-wise distribution )(Revised)

(Rs. in 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 3095 32876.47 22080 24451.54 25175 57328.012 ARUNACHAL PRADESH 16 52.68 102 44.13 118 96.813 ASSAM 425 1458.15 3337 1415.11 3762 2873.264 BIHAR 292 443.30 4191 792.02 4483 1235.325 CHHATISGARH 287 3116.34 2668 1194.81 2955 4311.156 GOA 143 1425.89 2916 1408.13 3059 2834.027 GUJARAT 3201 38334.49 25761 17615.41 28962 55949.908 HARYANA 683 12874.35 5444 8403.19 6127 21277.549 HIMACHAL PRADESH 175 5667.61 1303 745.20 1478 6412.8110 JAMMU & KASHMIR 70 105.89 842 281.94 912 387.8311 JHARKHAND 146 2587.57 2510 798.77 2656 3386.3412 KARNATAKA 1626 22485.77 22621 29989.15 24247 52474.9213 KERALA 962 4151.64 10005 5196.07 10967 9347.7114 MADHYA PRADESH 927 3627.03 8335 3283.45 9262 6910.4815 MAHARASHTRA 9387 141644.62 98428 102524.73 107815 244169.3516 MANIPUR 7 57.06 43 20.33 50 77.3917 MEGHALAYA 94 420.52 312 266.20 406 686.7218 MIZORAM 4 5.13 6 5.47 10 10.6019 NAGALAND 12 64.67 70 19.35 82 84.0220 ORISSA 512 5269.10 5073 2056.22 5585 7325.3221 PUNJAB 1351 9061.54 8071 3315.13 9422 12376.6722 RAJASTHAN 1095 7035.81 16834 4093.97 17929 11129.7823 TAMIL NADU 4042 46081.64 30524 38842.25 34566 84923.8924 TRIPURA 9 352.25 68 16.54 77 368.7925 UTTAR PRADESH 1752 12012.83 15161 5327.57 16913 17340.4026 UTTRAKHAND 134 722.71 1142 538.91 1276 1261.6227 WEST BENGAL 6755 30019.11 73182 32996.11 79937 63015.2228 DELHI 10167 89195.62 106298 104294.87 116465 193490.4929 A & N ISLAND 1 3.59 47 5.84 48 9.4330 CHANDIGARH 597 2103.05 3585 1091.54 4182 3194.5931 DAMAN & DIU 39 369.66 86 159.67 125 529.3332 D & N HAVELI 48 1974.29 147 138.44 195 2112.7333 LAKSHDWEEP 0 0.00 4 0.04 4 0.0434 PUDUCHERRY 56 258.70 667 676.34 723 935.04

totAl 48110 475859.08 471863 392008.44 519973 867867.52

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

91

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IX

StAtement - xV paid up capital of companies limited by Shares as on 31st march, 2010:

(distribution by industrial Activity)(Revised)

(Rs. in crore)

Sl.no. Industrial Classification 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, Forestry and Fishing

1569 5481.86 10641 4377.85 12210 9859.71

2 Mining & Quarrying 608 18096.35 5674 5954.94 6282 24051.29

3 Manufacturing 15916 202437.24 119617 123925.83 135533 326363.07

4 Electricity, Gas & Water Companies

1225 143603.38 3674 16525.29 4899 160128.67

5 Construction. 3234 69393.61 50847 47085.64 54081 116479.25

6 Trade, Hotels and Restaurants

4822 24690.96 77641 42981.94 82463 67672.90

7 Transport,Storage and Communications

1118 26286.40 15812 14367.61 16930 40654.01

8 Finance,Insurance,Real Estate & Business Services

13275 116241.96 127904 96727.60 141179 212969.56

9 Community, Personal & Social Services

2297 42973.40 23039 18716.97 25336 61690.37

10 Unclassified 4891 86434.87 37257 38821.62 42148 125256.49

totAl 48955 735640.03 472106 409485.29 521061 1145125.32

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

92

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EN

DIX

StAtement - xVi paid up capital of Government companies limited by Shares as on 31st march, 2010:

(distribution by industrial Activity)(Revised)

(Rs. in crore)

Sl.no. Industrial Classification 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, Forestry and Fishing

53 501.30 23 151.78 76 653.08

2 Mining & Quarrying 40 9115.34 21 2952.39 61 12067.73

3 Manufacturing 214 47661.61 66 9814.17 280 57475.78

4 Electricity, Gas & Water Companies

125 105120.18 11 975.85 136 106096.03

5 Construction. 56 28790.96 18 764.86 74 29555.82

6 Trade, Hotels and Restaurants

64 686.97 21 89.15 85 776.12

7 Transport,Storage and Communications

43 4067.08 9 339.39 52 4406.47

8 Finance,Insurance,Real Estate & Business Services

117 10009.82 31 456.86 148 10466.68

9 Community, Personal & Social Services

74 21550.48 25 353.66 99 21904.14

10 Unclassified 59 32277.22 18 1578.73 77 33855.95

totAl 845 259780.96 243 17476.84 1088 277257.80

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

93

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ND

IX

StAtement - xVii paid up capital of non-Government companies limited by Shares as on 31st march, 2010:

(distribution by industrial Activity)(Revised)

(Rs. in crore)

Sl.no. Industrial Classification 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, Forestry and Fishing

1516 4980.56 10618 4226.07 12134 9206.63

2 Mining & Quarrying 568 8981.01 5653 3002.55 6221 11983.56

3 Manufacturing 15702 154775.64 119551 114111.66 135253 268887.30

4 Electricity, Gas & Water Companies

1100 38483.20 3663 15549.44 4763 54032.64

5 Construction 3178 40602.65 50829 46320.76 54007 86923.41

6 Trade, Hotels and Restaurants

4758 24003.98 77620 42892.80 82378 66896.78

7 Transport,Storage and Communications

1075 22219.32 15803 14028.22 16878 36247.54

8 Finance,Insurance,Real Estate & Business Services

13158 106232.14 127873 96270.74 141031 202502.88

9 Community, Personal & Social Services

2223 21422.92 23014 18363.31 25237 39786.23

10 Unclassified 4832 54157.65 37239 37242.89 42071 91400.54

totAl 48110 475859.07 471863 392008.44 519973 867867.51

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

94

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EN

DIX

StAtement - xViii paid-up capital of companies limited by Shares as on 31st march, 2011:

(State-wise distribution)(Provisional)(Rs. in 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 3207 49436.10 26512 40625.66 29719 90061.762 ARUNACHAL PRADESH 16 59.39 114 66.12 130 125.513 ASSAM 485 3281.49 3756 1975.76 4241 5257.254 BIHAR 328 589.97 5208 1023.13 5536 1613.105 CHHATISGARH 332 11471.17 3247 1424.13 3579 12895.306 GOA 150 1481.14 3136 1723.03 3286 3204.177 GUJARAT 3263 85243.57 28677 22052.64 31940 107296.218 HARYANA 706 28804.73 6751 10860.88 7457 39665.619 HIMACHAL PRADESH 186 8481.28 1485 1818.20 1671 10299.4810 JAMMU & KASHMIR 78 254.43 975 283.31 1053 537.7411 JHARKHAND 162 4896.76 3075 3056.63 3237 7953.3912 KARNATAKA 1674 49259.71 25757 29775.62 27431 79035.3313 KERALA 1026 6571.48 11500 6773.58 12526 13345.0614 MADHYA PRADESH 1024 16547.01 9753 4541.82 10777 21088.8315 MAHARASHTRA 9367 165235.89 108526 109332.01 117893 274567.9016 MANIPUR 7 120.56 49 28.09 56 148.6517 MEGHALAYA 105 3697.71 350 402.47 455 4100.1818 MIZORAM 5 25.58 13 26.52 18 52.1019 NAGALAND 13 76.68 82 26.36 95 103.0420 ORISSA 606 7941.08 6081 2820.76 6687 10761.8421 PUNJAB 1395 17693.67 8813 4057.16 10208 21750.8322 RAJASTHAN 1189 17609.60 19373 4611.10 20562 22220.7023 TAMIL NADU 4051 67580.73 34596 40288.62 38647 107869.3524 TRIPURA 17 469.26 90 89.14 107 558.4025 UTTAR PRADESH 1940 43226.33 18009 5911.25 19949 49137.5826 UTTRAKHAND 148 4933.00 1390 656.82 1538 5589.8227 WEST BENGAL 7032 57309.36 85408 36742.77 92440 94052.1328 DELHI 10202 152969.20 115457 112435.06 125659 265404.2629 A & N ISLAND 2 4.59 73 18.22 75 22.8130 CHANDIGARH 620 3094.88 4034 1363.64 4654 4458.5231 DAMAN & DIU 38 389.52 93 465.66 131 855.1832 D & N HAVELI 44 1156.48 167 149.91 211 1306.3933 LAKSHDWEEP 0 0.00 8 6.57 8 6.5734 PUDUCHERRY 55 277.22 785 1618.02 840 1895.24

totAl 49473 810189.57 533343 447050.66 582816 1257240.23

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

95

APPE

ND

IX

StAtement - xix paid-up capital of Government companies limited by Shares as on 31st march, 2011:

(State-wise distribution)(Provisional)(Rs. in 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 33 6989.71 16 8145.68 49 15135.392 ARUNACHAL PRADESH 1 5.00 2 2.17 3 7.173 ASSAM 24 1679.03 14 421.18 38 2100.214 BIHAR 13 82.03 4 104.39 17 186.425 CHHATISGARH 10 7989.42 3 28.30 13 8017.726 GOA 11 237.14 1 0.62 12 237.767 GUJARAT 57 36812.01 1 0.01 58 36812.028 HARYANA 13 15367.21 2 117.08 15 15484.299 HIMACHAL PRADESH 8 4240.97 7 882.98 15 5123.9510 JAMMU & KASHMIR 8 136.68 2 5.01 10 141.6911 JHARKHAND 11 1908.00 8 2130.85 19 4038.8512 KARNATAKA 57 22548.29 6 1.63 63 22549.9213 KERALA 58 2059.09 26 605.08 84 2664.1714 MADHYA PRADESH 37 10537.29 11 244.99 48 10782.2815 MAHARASHTRA 94 26575.57 44 441.85 138 27017.4216 MANIPUR 1 60.00 0 0.00 1 60.0017 MEGHALAYA 8 3283.87 6 103.26 14 3387.1318 MIZORAM 1 15.78 2 19.79 3 35.5719 NAGALAND 1 12.02 2 1.70 3 13.7220 ORISSA 35 3983.60 5 70.92 40 4054.5221 PUNJAB 6 972.22 2 0.26 8 972.4822 RAJASTHAN 37 9382.27 2 24.06 39 9406.3323 TAMIL NADU 51 10370.35 9 60.36 60 10430.7124 TRIPURA 5 69.93 4 63.23 9 133.1625 UTTAR PRADESH 78 29976.83 5 19.57 83 29996.4026 UTTRAKHAND 14 4196.56 2 8.01 16 4204.5727 WEST BENGAL 59 22136.18 20 322.91 79 22459.0928 DELHI 92 65037.70 16 1917.74 108 66955.4429 A & N ISLAND 1 1.00 1 10.97 2 11.9730 CHANDIGARH 18 552.16 9 115.64 27 667.8031 DAMAN & DIU 1 9.96 0 0.00 1 9.9632 D & N HAVELI 1 4.93 0 0.00 1 4.9333 LAKSHDWEEP 0 0.00 1 6.50 1 6.5034 PUDUCHERRY 0 0.00 15 630.82 15 630.82

totAl 844 287232.80 248 16507.56 1092 303740.36

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

96

APP

EN

DIX

StAtement - xx paid-up capital of non-Government companies limited by Shares as on 31st march,

2011: (State-wise distribution)(Provisional)(Rs. in 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 3174 42446.39 26496 32479.98 29670 74926.372 ARUNACHAL PRADESH 15 54.39 112 63.95 127 118.343 ASSAM 461 1602.46 3742 1554.58 4203 3157.044 BIHAR 315 507.94 5204 918.73 5519 1426.675 CHHATISGARH 322 3481.75 3244 1395.83 3566 4877.586 GOA 139 1244.01 3135 1722.41 3274 2966.427 GUJARAT 3206 48431.55 28676 22052.63 31882 70484.188 HARYANA 693 13437.52 6749 10743.80 7442 24181.329 HIMACHAL PRADESH 178 4240.31 1478 935.22 1656 5175.5310 JAMMU & KASHMIR 70 117.75 973 278.30 1043 396.0511 JHARKHAND 151 2988.75 3067 925.78 3218 3914.5312 KARNATAKA 1617 26711.41 25751 29773.99 27368 56485.4013 KERALA 968 4512.39 11474 6168.50 12442 10680.8914 MADHYA PRADESH 987 6009.71 9742 4296.83 10729 10306.5415 MAHARASHTRA 9273 138660.34 108482 108890.15 117755 247550.4916 MANIPUR 6 60.56 49 28.09 55 88.6517 MEGHALAYA 97 413.84 344 299.20 441 713.0418 MIZORAM 4 9.80 11 6.73 15 16.5319 NAGALAND 12 64.66 80 24.66 92 89.3220 ORISSA 571 3957.48 6076 2749.85 6647 6707.3321 PUNJAB 1389 16721.45 8811 4056.90 10200 20778.3522 RAJASTHAN 1152 8227.33 19371 4587.04 20523 12814.3723 TAMIL NADU 4000 57210.38 34587 40228.26 38587 97438.6424 TRIPURA 12 399.33 86 25.91 98 425.2425 UTTAR PRADESH 1862 13249.50 18004 5891.69 19866 19141.1926 UTTRAKHAND 134 736.44 1388 648.81 1522 1385.2527 WEST BENGAL 6973 35173.18 85388 36419.86 92361 71593.0428 DELHI 10110 87931.50 115441 110517.33 125551 198448.8329 A & N ISLAND 1 3.59 72 7.25 73 10.8430 CHANDIGARH 602 2542.72 4025 1248.00 4627 3790.7231 DAMAN & DIU 37 379.57 93 465.66 130 845.2332 D & N HAVELI 43 1151.54 167 149.91 210 1301.4533 LAKSHDWEEP 0 0.00 7 0.07 7 0.0734 PUDUCHERRY 55 277.22 770 987.20 825 1264.42

totAl 48629 522956.76 533095 430543.10 581724 953499.86

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

97

APPE

ND

IX

StAtement - xxi paid up capital of companies limited by Shares as on 31st march, 2011: (distribution by

industrial Activity)(Provisional)(Rs. in crore)

Sl.no. Industrial Classification 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, Forestry and Fishing

1660 5875.26 12023 5064.78 13683 10940.04

2 Mining & Quarrying 616 14966.83 6485 6029.19 7101 20996.02

3 Manufacturing 15781 214471.95 129303 129693.46 145084 344165.41

4 Electricity, Gas & Water Companies

1356 179525.79 5048 24614.74 6404 204140.53

5 Construction. 3444 79159.77 57813 46559.49 61257 125719.26

6 Trade, Hotels and Restaurants

4886 26678.61 91589 49677.90 96475 76356.51

7 Transport,Storage and Communications

1153 31862.16 17776 16965.17 18929 48827.33

8 Finance, Insurance, Real Estate & Business Services

13499 125532.53 149557 108354.81 163056 233887.34

9 Community, Personal & Social Services

2381 47276.65 27453 18858.95 29834 66135.60

10 Unclassified 4697 84840.02 36296 41232.17 40993 126072.19

totAl 49473 810189.57 533343 447050.66 582816 1257240.23

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

98

APP

EN

DIX

StAtement - xxii paid up capital of Government companies limited by Shares as on 31st march, 2011:

(distribution by industrial Activity)(Provisional)(Rs. in crore)

Sl.no. Industrial Classification 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, Forestry and Fishing

52 512.35 22 153.51 74 665.86

2 Mining & Quarrying 40 7826.47 23 2631.70 63 10458.17

3 Manufacturing 202 49904.23 66 9389.00 268 59293.23

4 Electricity, Gas & Water Companies

136 120524.45 11 1225.21 147 121749.66

5 Construction 57 33071.94 20 177.90 77 33249.84

6 Trade, Hotels and Restaurants

64 766.70 20 91.16 84 857.86

7 Transport,Storage and Communications

50 6464.88 11 355.32 61 6820.20

8 Finance,Insurance, Real Estate & Business Services

114 11,576.29 28 424.85 142 12001.14

9 Community, Personal & Social Services

75 21504.46 30 364.41 105 21868.87

10 Unclassified 54 35081.03 17 1694.50 71 36775.53

totAl 844 287232.80 248 16507.56 1092 303740.36

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

99

APPE

ND

IX

StAtement - xxiii paid up capital of non-Government companies limited by Shares as on 31st march, 2011:

(distribution by industrial Activity)(Provisional)(Rs. in crore)

Sl.no. Industrial Classification 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, Forestry and Fishing

1608 5362.91 12001 4911.27 13609 10274.18

2 Mining & Quarrying 576 7140.36 6462 3397.50 7038 10537.86

3 Manufacturing 15579 164567.72 129237 120304.44 144816 284872.16

4 Electricity, Gas & Water Companies

1220 59001.34 5037 23389.52 6257 82390.86

5 Construction. 3387 46087.83 57793 46381.60 61180 92469.43

6 Trade, Hotels and Restaurants

4822 25911.91 91569 49586.74 96391 75498.65

7 Transport,Storage and Communications

1103 25397.28 17765 16609.85 18868 42007.13

8 Finance,Insurance, Real Estate & Business Services

13385 113,956.25 149529 107,929.97 162914 221886.22

9 Community, Personal & Social Services

2306 25772.19 27423 18494.54 29729 44266.73

10 Unclassified 4643 49758.98 36279 39537.67 40922 89296.65

totAl 48629 522956.77 533095 430543.10 581724 953499.87

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

100

APP

EN

DIX

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