Illustration: Ajay Mohanty
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Topics
Companies | Ministry of Corporate Affairs | Rajya Sabha
Illustration: Ajay Mohanty
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
A total of 3,552 foreign companies and subsidiaries of foreign companies have been closed in India between 2017 and 2022.
According to information provided by the Ministry of Corporate Affairs in a written reply in the Rajya Sabha on Tuesday, the closure of operations of a company is a business decision peculiar to each company which may be include factors such as cessation of operation of branch office, expiration of validity of permission or licence etc granted by the Reserve Bank of India, not starting its operation due to change of business policy of the parent company, foreign company establishing a private limited company in India, closure of Parent Company, management's decision, closure of liaison office/ branch office in India on completion of project of parent Company.
The reasons for closure of subsidiaries of foreign companies are also similar, said the Ministry in reply.
On the question about "the total number of active foreign subsidiaries operating in the country," the Ministry replied: "There are 14,137 number of active foreign subsidiaries operating in the country."
--IANS
kvm/kvd
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Tue, February 07 2023. 16:58 IST
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Author: Ricardo Goulart ... Read more
Author: Gerardine Lucero  ... Read more
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more