Over 2 lakh private companies in India shut down in just 5 years

Over 2 lakh private enterprises in India terminated operations between FY21 and FY25, according to data provided by Union Corporate Affairs Ministry. The firms closed as a result of conversion, merging, dissolution, or being struck off under the Companies Act of 2013. In FY23, 82,125 corporations were abolished during the government's drive to shed defunct entities.