Latest news with #AMRCD
Business Standard
02-06-2025
- Business
- Business Standard
ITI receives further tranche of Rs 25 cr from C-DOT
ITI announced that in pursuance to the revised order of the AMRCD, the company has received further tranche of Rs. 25 crore from C-DOT, as part of executed sale agreement between ITI and C-DOT. The balance remaining part of the consideration is expected to be received after completion of remaining statutory formalities by the company in this regard. The AMRCD order stipulates that ITI transfer its 22.258 acres of land situated at Electronic City, Bangalore to C-DOT through a sale deed for a consideration of Rs. 200 by Capital Market - Live News
Business Upturn
02-05-2025
- Business
- Business Upturn
ITI receives Rs 50 crore from C-DOT as part of Bengaluru land sale agreement
By Aditya Bhagchandani Published on May 2, 2025, 12:17 IST Shares of ITI Limited may remain in focus after the company informed exchanges that it has received a further tranche of ₹50 crore from the Centre for Development of Telematics (C-DOT) under a revised land sale agreement involving 22.258 acres of prime land located at Electronic City, Bengaluru. In a regulatory filing dated May 2, 2025, ITI Limited stated that the company had earlier entered into a revised AMRCD (Alternative Mechanism for Resolution of Commercial Disputes) order with C-DOT for the sale of this land for a total consideration of ₹200 crore. The company has now received ₹50 crore as part of this executed sale agreement. The balance amount is expected to be received upon completion of remaining statutory formalities, the company added. The development is seen as a key financial inflow for the government-owned telecom firm, which has been undergoing restructuring and asset monetization efforts to boost its balance sheet. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
