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TMI BlogInfusion of ₹ 60 crore in IFCI Ltd. to make it a Government CompanyX X X X Extracts X X X X X X X X Extracts X X X X ..... Infusion of ₹ 60 crore in IFCI Ltd. to make it a Government Company - News and Press Release Dated:- 29-12-2014 - News - The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... day approved the infusion of ₹ 60 crore in Industrial Finance Corporation of India (IFCI) Ltd. to make it a Government company by way of acquisition of preference shares from existing share hold ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er(s). Background Industrial Finance Corporation of India was set up in 1948 as a Statutory Corporation under the Industrial Finance Corporation Act, 1948. The Act has since been repealed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993 and IFCI Ltd was registered under the Companies Act, 1956 on 31.03.1993. The current shareholding of Government of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia in IFCI after inclusion of the preference Share capital is 47.93 percent. Therefore, IFCI is not a Government Company under section 2(45) of the Companies Act, 2013 . A contribution of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 60 crore to the capital of the company would raise the shareholding of the Government to 51 percent. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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