Compact Disc India Ltd (CDIL) incorporated on 7th May 1992 as a public limited company with the main objective of setting up a 100% EOU plant for manufacturing compact discs. The company commenced its business activities on 8th May 1992. CDIL has been promoted by Suresh Kumar, Rashmee Seengal and Santosh Grover.
CDIL came out with a public issue of 67.5 lac shares at par in February 1993 to part finance its 100% export-oriented high-tech electronics unit to manufacture compact discs (Capacity of 4.2 million per annum). It will manufacture both standard (120 mm) and single version (80 mm) discs. It has entered into technical collaboration with Netstal/First Light Technology, US. First Light Company will participate in equity to the extent of Rs 150 lac. The project of Rs 11.75 cr is located at Gurgaon, Haryana. Compact discs are used for storing and reading digital sound, ie, music. This technology has virtually revolutionalised the recorded-music industry.
In May '92, the company entered into an MoU with Delta Disc, UK, for the export of 3.5 mln or a minimum of 75% of annual production for a period of five years.
CDL has set up an assembly unit at Navi Mumbai in collaboration with Hyundai Corp, Korea, to manufacture CD video players. It has successfully recorded Hindi film songs on a computer floppy disk which can be heard on any PC.
A new modern multimedia studio was set up with cutting edge technologies at Gurgaon. A web site with complete credit information on the Indian corporate world with the name www.loandefaulters.com was launched during 2000-2001.The company has drawn up its plans to set-up a most modern plant for production of various formats of DVD at an estimated capital outlay of Rs.12 crores,the plant is expected to be operationalised in the current financial year.
CDL International Ltd.,London has assigned to CDIL a contract to produce two feature films on behalf of them, name of the films are Parallel Universe and Untitled Hindi Film (Production No.1). Parallel Universe is a 270 minutes of animation series presently under development with Flare Studios, Kuala Lumpur, Malaysia. The total contract value is USD 2.10 million.
The Company has set-up a most modern animation studio. It has highly trained animators and qualified experts to handle the jobs. It provides solutions to the film industry, education, presentation and training.