Thirty per cent of Indian companies face closure for doing zero business in last 2 years

About 25-30 per cent Indian companies - those with zero turnovers in the last couple of years, may lose their registration as part of central government's latest action against shell companies. The ministry of corporate affairs (MCA) is planning to use provisions of Section 248 of the Companies Act to proceed against these "dormant companies" which remained passive for two consecutive years, even though they complied with the requirement to file returns.