Stalin launches website to monitor State PSUs

Chennai: Chief Minister M K Stalin launched a website – www.ccfms.tn.gov.in – for the Companies Compliances and Financials Monitoring Systems that would help keeping track of the functioning of the public sector companies in the State and also launched the Tamil Nadu Emerging Sector Seed Fund on Friday.

At the official event in the Secretariat, Stalin also issued orders for making investments in five companies under the new seed fund, which is expected to be raised to Rs 500 crore by 2023-24. As of now the government had pooled in Rs 50 crore and TIDCO and TIDEL Park another Rs 50 crore.

The companies that received seed fund were E-Sandai (Rs 1 crore), Kaigal (Rs 2 crore), Planytics (Rs 2 crore), Surinova (Rs 5 crore) and Mr Med (Rs 3.40 crore).

As far as the website is concerned, it would help gather information on the public sector companies and also identify violations committed by them. Through an automated messaging system, the director of the companies would be alerted of the violations for necessary action, an official press release said.