Infusion of Rs. 60 crore in IFCI Ltd. to make it a Government Company

Published By : Admin | December 29, 2014 | 19:56 IST

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved the infusion of RS. 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 holder(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 The Act has since been repealed by the Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993 and IFCI Ltd was registered under the Companies Act, 1956 on 31.03.1993.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 India 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 Rs. 60 crore to the capital of the company would raise the shareholding of the Government to 51 percent.

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PM bows to Sri Guru Teg Bahadur Ji on his martyrdom day
December 06, 2024

The Prime Minister, Shri Narendra Modi has paid tributes to Sri Guru Teg Bahadur Ji on his martyrdom day. Prime Minister, Shri Narendra Modi recalled the unparalleled courage and sacrifice of Sri Guru Teg Bahadur Ji for the values of justice, equality and the protection of humanity.

The Prime Minister posted on X;

“On the martyrdom day of Sri Guru Teg Bahadur Ji, we recall the unparalleled courage and sacrifice for the values of justice, equality and the protection of humanity. His teachings inspire us to stand firm in the face of adversity and serve selflessly. His message of unity and brotherhood also motivates us greatly."

"ਸ੍ਰੀ ਗੁਰੂ ਤੇਗ਼ ਬਹਾਦਰ ਜੀ ਦੇ ਸ਼ਹੀਦੀ ਦਿਹਾੜੇ 'ਤੇ, ਅਸੀਂ ਨਿਆਂ, ਬਰਾਬਰੀ ਅਤੇ ਮਨੁੱਖਤਾ ਦੀ ਰਾਖੀ ਦੀਆਂ ਕਦਰਾਂ-ਕੀਮਤਾਂ ਲਈ ਲਾਸਾਨੀ ਦਲੇਰੀ ਅਤੇ ਤਿਆਗ ਨੂੰ ਯਾਦ ਕਰਦੇ ਹਾਂ। ਉਨ੍ਹਾਂ ਦੀਆਂ ਸਿੱਖਿਆਵਾਂ ਸਾਨੂੰ ਮਾੜੇ ਹਾਲਾਤ ਵਿੱਚ ਵੀ ਦ੍ਰਿੜ੍ਹ ਰਹਿਣ ਅਤੇ ਨਿਰਸੁਆਰਥ ਸੇਵਾ ਕਰਨ ਲਈ ਪ੍ਰੇਰਿਤ ਕਰਦੀਆਂ ਹਨ। ਏਕਤਾ ਅਤੇ ਭਾਈਚਾਰੇ ਦਾ ਉਨ੍ਹਾਂ ਦਾ ਸੁਨੇਹਾ ਵੀ ਸਾਨੂੰ ਬਹੁਤ ਪ੍ਰੇਰਿਤ ਕਰਦਾ ਹੈ।"