Corporate growth down 52.45 per cent in March

New Delhi, June 6

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 here on Wednesday.

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

The combined authorised capital of all 2,121 companies stood at Rs 938.70 crore, while the authorised capital of the limited companies (2,112 registrations) stood at Rs 938 crore with 111 public limited companies having a capital of Rs 473 crore and 2,001 private limited companies with Rs 465 crore 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. (PTI)