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Corporate growth dips by 52.45 per cent in March '01

Reinforcing the economic slowdown in India, corporate growth registered a 52.45 per cent dip to 2,121 company registrations during March, 2001, as against 4,461 registrations in the corresponding period of the previous fiscal.

The growth, however, showed improvement over the previous month's figure of 1,915 company registrations, an official release said in New Delhi on Wednesday.

Of the 2,121 companies registered, 2,112 were limited by shares, including a state government company - Chhattisgarh State Civil Supplies Corporation Ltd, eight were guarantee companies and one was unlimited, it said.

The combined authorised capital of all 2,121 companies stood at Rs 9.39 billion, while the authorised capital of the limited companies (2,112 registrations) stood at Rs 9.38 billion with 111 public limited companies having a capital of Rs 4.73 billion and 2,001 private limited companies with Rs 4.65 billion capital base, it said.

On sector-wise classification, the highest number of registration was in 'financing, insurance, real estate and business services' with 698 registrations, closely followed by 'manufacturing' with 592 and "wholesale, retail trade and hotels' with 401 companies, the release said.

Pointing out that 59 companies had ceased to exist in March due to liquidation, it said private limited ones topped the list with 55 cases, which was three more from the previous month, and the remaining were public limited.

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