79 new IT firms register in Kerala
By Kerala IT News

Kerala was always a key IT ITES hub, but is now growing at a rapid pace. There has been a spurt in the number of IT companies moving to Kerala.  As per a communiqué from the Registrar of Companies, Kerala and Lakshadweep, based in Kochi, 79 new companies in the Information Technology and Computer related field were registered in Kerala between April 1, 2011 and June 30, 2011.

During this period, a total of 679 new companies were registered in Kerala with a total capital base of Rs.132.77 crores. Out of these, 10 are public companies with the remaining 669 in the private sector. The capital base of private companies amount to Rs.120.22 crores. 47 of these companies are big ones with an investment of Rs.50 lakhs or more. The highest number of 229 new companies is based in Ernakulam followed by 122 in Thrissur and 97 in Thiruvananthapuram. Surprisingly, during the same period, 779 companies from Kerala were struck off the register.

The Registrars of Companies (ROC) appointed under Section 609 of the Companies Act, 1956 are vested with the primary duties of registering companies floated in the respective states and ensuring that such companies comply with statutory requirements under the Act. These offices function as registry of records, relating to the companies registered with them. The ROC deals with change of name of companies, change of financial year, conversion of companies from Private to Public and vice versa, striking off of names of companies, and default action against the companies. The Kochi office deals with companies registered in the State of Kerala and Union Territory of Lakshadweep.

(In Techgoss syndication arrangement with Keralaitnews.com )