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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 Rs 20 crore of BFIL Finance.
BFIL Finance is another wholly 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 National Stock Exchange.
The move has resulted in BFIL becoming a wholly owned subsidiary firm of RCL.
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