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Diversified conglomerate ITC Ltd today said Russell Credit, its wholly-owned subsidiary, has acquired the “entire subscribed and paid up equity share capital” of ₹20 crore of BFIL Finance. BFIL Finance is another wholly-owned subsidiary of ITC. "BFIL has ceased to be a direct subsidiary of the company with effect from June 18, 2015," ITC said in a regulatory filing to the NSE. The move has resulted in BFIL becoming a wholly-owned subsidiary of RCL.
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