History of EDC

The EDC Limited, originally known as the Economic Development Corporation of Goa, Daman & Diu Limited (EDC) incorporated on 12th March, 1975 as a public limited company under the Companies Act, 1956 has been the state financial institution set up by the Govt. of Goa with the prime objective to promote industrial development. The area of operation of EDC in addition to Goa is in the Union Territory of Daman, Diu, Dadra and Nagar Haveli. .

It has been acting as a state Industrial and investment Corporation. Besides, it has also been accorded the twin status of State Financial Corporation (SFC) by IDBI/SIDBI.

The equity capital of the company is not only subscribed by the Govt of Goa but also Daman & Diu Administration and IDBI. The present shareholding of the Corporation as on 31/03/2007 is as follows:

                         Amount (Rs. In lakhs)      Percentage
Government of Goa       Rs.5120.00               77.67%
IDBI                           Rs.1153.00               17.49%
Administration of
    Daman & Diu            Rs.319.00                  4.84%
                               -------------
                         Total Rs.6592.00             100.00%

STATUS OF EDC FUNDING (AS ON 31/03/2007)

Cumulative sanctions             Rs.84,419.46 lakhs
Cumulative disbursements       Rs.55,182.14 lakhs
Cumulative recovery              Rs.75,182.14 lakhs
Units assisted                       5,562 nos.

The present staff strength of EDC is 94, comprising mainly of professionals from various disciplines.

Copyright © EDC Limited 1999-2004. All rights reserved.

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