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Cabinet allows M/s. ITI Limited to transfer shares to Special National Investment Fund to meet SEBI s minimum public shareholding requirement

News and Press Release - Dated:- 13-7-2016 - The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the following proposal of Department of Telecommunication regarding transfer of shares by M/s ITI Limited to Special National Investment Fund (SNIF) to meet Securities and Exchange Board of India's minimum public shareholding requirement: a) M/s ITI Limited will be allowed to transfer the requisite number of shares from President of India to S .....

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osses to the tune of ₹ 5,166 crore as on 31.03.2015. The financial position of M/s. ITI is not very sound. CCEA in its meeting held in February, 2014 approved the proposal to provide financial assistance of ₹ 4156.79 crore for revival of M/s ITI Limited. An amount of ₹ 192 crore was provided to M/s ITI Limited during 2014-15 for meeting its CAPEX requirements for implementing revival plan. With this equity infusion, Government of India Shareholding will go beyond 90%. In order .....

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