LAW MINISTER RELEASES CD-ROM ON FINANCIAL
PROFILES OF MORE THAN TWO LAKH
COMPANIES
The Union Minister of Law, Justice and Company
Affairs, Shri Arun Jaitley released a CD-ROM "First Source"
containing a large database on key financial statistics of 2,45,366
registered companies, both public limited and private limited,
developed jointly by the Department of Company Affairs (DCA) and
the Centre for Monitoring Indian Economy (CMIE), at a function
held here today. The Secretary, Department of Company Affairs,
Shri Vinod Dhall and other senior officials of the Department
were present on the occasion.
The database contains over 35 background
and financial fields on a company including the economic activity,
Board of directors, auditors, total income and expenditure with
break up, profits/loss, assets and liabilities with break ups.
An earlier version of CD-ROM was released in September, 2001 containing
database on financials of about 1,50,000 companies. Information
contained in the earlier CD is also part of the database of the
CD released.
A special user-friendly software has been
developed to access and analyse the database. The software enables
searches, sorts, rankings, mail merge, label generation and plotting
of charts. The software incorporates a powerful search engine
whereby the user can locate companies by name, names of directors,
products manufactured, location of registered office, name of
auditor and other related matters.
The First Source database is expected to
find applications in business-to-business transactions, in banks
and lending institutions, in research as well as in policy making.
Besides, it will work as a check list to alert intending investors
to take appropriate decision before their investment in companies.
Speaking on the occasion, Shri Arun Jaitley
appreciated the efforts of DCA and CMIE and said that the CD-ROM
would be quite useful to companies and investors in raising their
productivity. He hoped that this database would form part of the
evolving transparency in the corporate sector and the workings
of the corporate governance.
