324 companies filed for bankruptcy between 2018 to 2020

Last updated: 16 March 2021

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A total of 324 companies filed for bankruptcy in the UK between 2018 and 2020. The figures show 149 companies filed in 2018, followed by 103 in 2019 and 72 in 2020. This information was revealed by the Union Minister of State for Finance & Corporate Affairs, Shri Anurag Singh Thakur, in response to a question in the Rajya Sabha. While the number of companies filing for bankruptcy has fluctuated, the total number of applications filed under the Insolvency and Bankruptcy Code (IBC) has not significantly increased over this period.

As per data provided by the National Company Law Tribunal (NCLT), 149 in the year 2018, 103 in the year 2019 and 72 in the year 2020 making a total of 324 companies which have filed for bankruptcy during the aforesaid three years period.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

Giving more details, the Minister stated, as per data provided by the NCLT, 8,330 applications in the year 2018, 12,091 in the year 2019 and 5,282 in the year 2020 were filed under the IBC. Therefore, it appears that number of applications have not increased over the last three years.

324 UK Companies Filed for Bankruptcy 2018-2020

As per the Companies Act 2013, companies are required to hold Annual General Meeting (AGM) within six months from the end of financial year. Therefore, financial statements and board report containing disclosure about CSR, are to be filed in MCA21 database within 30 days of the AGM. Thus, for the current financial year no filing has been made by CSR mandated companies.

FAQ :

A total of 324 companies filed for bankruptcy between 2018 and 2020.

In 2018, 149 companies filed for bankruptcy, followed by 103 in 2019, and 72 in 2020.

The data was provided by the National Company Law Tribunal (NCLT) and stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs.

According to the data, the number of applications filed under the IBC has not increased over the last three years (2018-2020).

Companies are required to file their financial statements and board reports within 30 days of their Annual General Meeting (AGM).

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