The Ministry of Corporate Affairs has constituted a new South Eastern Regional Directorate with its headquarters in Hyderabad for the States of Kerala, Karnataka, Andhra Pradesh, and the Union Territory of Andaman and Nicobar Islands.
The new directorate will provide speedy disposal of company law matters, said Regional Director E. Selvaraj at a press conference here on Thursday.
He said interaction with the offices of the Registrar of Companies in the country had become easier and faster with all transactions becoming online. Incorporation of a company could take place within a few hours as the procedures had been simplified. Such facilities were also being provided for companies on the exit.
According to a press release, the office of the Registrar of Companies had been registering companies in Kerala within two days. The Straight Through Process, introduced lately, had made the transactions faster. The Corporate Affairs Ministry had already authorised practising professionals to approve Director Identification Number and other forms.
There are a total of 16,669 working companies in Kerala as on June 30, 2011. Of them, 77 are listed public companies, 1,254 are unlisted public companies, 110 are government-owned companies, 97 are non-profit organisations, 17 are producer companies and 15,114 are private limited companies.
The percentage of statutory filing of returns for the financial year 2009-10 is 69.07 per cent. The Corporate Affairs Ministry wants to have 100 per cent compliance level for companies registered with the Registrar of Companies, Kerala. There are 172 cases in the court regarding companies seeking to wind up.