Intimation of Company becoming a Government Company

| Updated on April 27, 2015 Published on April 27, 2015

IFCI Factors Ltd has informed BSE that based on the communication received by IFCI Ltd from the Ministry of Finance, Government of India has acquired 6,00,00,000 Preference shares of Rs. 10/- each of the IFCI Ltd. from certain Scheduled Commercial Banks and has consequently increased its holding from present 47.93% to 51.04% of the Paid - up share capital of the Company.

As a result of the above mentioned increase in shareholding of the Government of India, IFCI has become a Government Company as per the provisions of Section 2(45) of the Companies Act, 2013, w.e.f. April 07, 2015.

In terms of Section 2(45), IFCI Factors being a subsidiary company of IFCI Ltd. has also become a "Government Company" w.e.f. April 07, 2015.

Source : BSE - www.bseindia.com

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Published on April 27, 2015
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