Buzz Update MCA registers 1.67 lakh companies FY2021-22 TOU

Buzz Update MCA registers 1.67 lakh companies FY2021-22

 TOU

MCA registers 1.67 lakh companies FY2021-22


During the financial year 2021-22, the Ministry of Corporate Affairs (MCA) registered more than 1.67 lakh company corporations compared to 1.55 lakh companies in the financial year 2020-21.

This increase is significant as the number of incorporated companies in the 2020-21 financial year was the highest in any previous year. FY Incorporations in the 2021-22 financial year were 8 percent higher than in corporations in 2020-21. MCA registered 1.24 lakh companies in the financial year 2018-19 and 1.22 lakh companies in 2019-20, while registering 1.55 lakh companies in the financial year 2020-21.

As part of the Government of India’s drive for Ease of Doing Business (EoDB), MCA has undertaken a number of initiatives that will save many policies, time and expense to start a business in India.

MCA launched the SPICe + Form in February 2020 and has been set up in 3 Union Ministries / Departments (Ministry of Corporate Affairs, Ministry of Labor & Revenue in the Ministry of Finance), 3 State Governments (Maharashtra, Karnataka and West Bengal), and NCT of Delhi:

  • Name Reservation
  • Company Incorporation
  • Director Identification Number
  • EPFO Registration No.
  • ESIC registration number
  • PAN
  • TAN
  • Professional tax registration number for the states of Maharashtra, Karnataka and West Bengal
  • Bank account number and
  • GSTN number (optional)
  • Shop and Establishment Registration No. for Delhi NCT.

The states with the highest number of registrations in FY 2021-22 were Maharashtra (31,107 companies), Uttar Pradesh (16,969 companies), Delhi (16,323 companies), Karnataka (13,403 companies) and Tamil Nadu (11,020 companies).

By sector, the maximum number of companies merged into business services (44,168 companies), followed by manufacturing (34,640 companies), community & personal & social services (23,416 companies) and agriculture & allied activities (13,387 companies).

MCA is constantly striving to change the regulatory environment and has taken several steps towards EoDB in recent times: –

  • An amendment to the definition of small companies that has reduced the compliance burden on nearly 2 lakh companies
  • Rs. Zero MCA fee for Company Incorporation up to Rs 15 lakh authorized capital
  • Encouragement of one person companies (OPCs) incorporation
  • De-criminalize technical & procedural violations under the Companies & LLP Act
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