According to an official reply in Rajya Sabha by the ministry of Corporate Affairs, a staggering 2,277 businesses including 39 listed companies moved their registered offices from Mamata Banerjee-ruled West Bengal to other states between 2019 and 2024.
The shocking statistics came to light on 3rd December after the Union Ministry of Corporate Affairs replied to a query posed by first-time Bharatiya Janata Party’s Member of Parliament Samik Bhattacharya.
Bhattacharya had also inquired as to whether the All India Trinamool Congress (AITC or TMC) government had determined the causes of the relocations of these companies and whether any efforts were underway to attract and retain businesses. “Administrative, operational, convenience, cost-effectiveness and for better control” among other things was the response.
Bhattacharya had questioned, “Will the Minister of Corporate Affairs be pleased to state (a) the total number of companies that have shifted their registered office from West Bengal to other states of the country from 2019 to 2024, (b) the number of such companies listed on stock exchanges, and sectors where they primarily belong to, (c) the reasons identified by Government for companies shifting their headquarters from West Bengal to other States, including any challenges or disadvantages cited by these companies in operating from West Bengal and (d) the steps being taken by government to address these issues and to retain and attract businesses to West Bengal?”
“2227 number of companies have shifted their registered office from the State of West Bengal to other States during the period from 2019 to 2024. (b) Out of the above 2227 companies, 39 companies are listed companies. These companies are engaged in activities of manufacturing, financing, commission agents, trading etc. (c) & (d) Companies are permitted to shift their registered office from one state to another, in accordance with the provisions of Section 13(4) of the Companies Act, 2013 read with Rule 30 of the Companies (Incorporation) Rules, 2014. The reason for shifting their registered office provided by the companies in their applications are administrative, operational, convenience, cost-effectiveness, for better control etc,” the ministry answered.
It is noteworthy that the government’s policies to prevent such company migrations in the future were not mentioned. Meanwhile, Amit Malviya, in-charge of BJP’s National Information & Technology Department who also serves as the co-incharge West Bengal also flagged the information and attacked the TMC supremo. “Here is Mamata Banerjee’s report card on corporate exodus from West Bengal and what a massive disaster she is, as a chief minister,” he pointed out while quoting the figures.
Here is Mamata Banerjee’s report card on corporate exodus from West Bengal and what a massive disaster she is, as a Chief Minister.
— Amit Malviya (@amitmalviya) December 4, 2024
Between 2019 and 2024, a period of just five years, a staggering 2,227 companies relocated their registered offices from West Bengal to other… pic.twitter.com/V7PK63ZiGp
“This is a concerning trend, which underlines the grim state of lack of jobs, trade and industrial growth in West Bengal. The data was provided by the Union Ministry of Corporate Affairs in response to a question posed by Rajya Sabha MP Shri Samik Bhattacharya,” he added. The saffron party has regularly asserted that the state’s present government is “anti-industry” and the development could cause a lot of embarrassment for the TMC administration.
