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Telangana to AP: Companies say no for shifting
Telangana To AP: Companies Say No For Shifting. Shattering the expectations of many people that there will be an enormous shifting of registered firms from Telangana to Andhra Pradesh after the state bifurcation, many firms say no for shifting from Telangana to Andhra Pradesh.
Hyderabad: Shattering the expectations of many people that there will be an enormous shifting of registered firms from Telangana to Andhra Pradesh after the state bifurcation, many firms say no for shifting from Telangana to Andhra Pradesh. Many people thought so, as most of the businessmen hail from the 13 districts of residuary Andhra Pradesh
It will be only a very few transfers, however, that could be seen after the state bifurcation. Before the appointed day of the Telangana state i.e. on June 2, as many as 700 companies have migrated to Andhra Pradesh. Nevertheless, post state bifurcation such moves is hardly seen. The most probable reason might be the involvement of cumbersome procedures to migrate a firm from one state to the other.
As far as the new registration of firms is concerned, Andhra Pradesh state is ahead of Telangana state. About 211 new companies with Rs 36.74 crore authorized capital were registered in Andhra Pradesh in June this year while 177 companies with Rs 10.96 crore authorized capital were set up with their base in Telangana. Most of these companies registered are into business services, manufacturing, trading and real estate.
One important note to be made here is that there haven’t been any new multinational companies registered in both the states after the bifurcation. However, the erstwhile Andhra Pradesh state in the month of May i.e. just a month before the bifurcation had 237 new company registrations. The erstwhile AP is second in the country after UP in new registrations, then.
