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Over 1500 private companies to be dissolved

Mariyam Malsa
14 July 2019, MVT 15:47
Registrar of Companies Mariyam Visam. PHOTO: HUSSEIN WAHEED/ MIHAARU
Mariyam Malsa
14 July 2019, MVT 15:47

The Ministry of Economics, on Sunday, ordered the dissolution of 1,597 companies over a failure to pay the annual fees.

The Registrar of Companies finalised the decision to dissolve the aforementioned companies under regulations which state that non-payment of annual fees constitute a cause for dissolution. The announcement disclosed that the companies in question were registered between 2002 and 2006.

A complete list of the companies to be dissolved are now publicly viewable on the economic ministry's website.

If any of the mentioned companies desire to continue operations, they are required to fulfill all stipulated procedures and inform the ministry prior to August 4.

Furthermore, the ministry must also be informed of any debts or claims against the 1,597 companies within the same time period.

The Economic Ministry previously ordered the dissolution of 523 companies. Registrar of Companies Mariyam Visam previously stated that some of these companies had settled neccesary fees and informed the ministry.

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