The Principal Bench of National Company Law Tribunal (NCLT) has approved the stake sale of IL&FS in Gujarat International Finance Tec-City Company Limited (GIFTCL) to the Government of Gujarat.<\/p>\n
The crisis-ridden IL&FS holds 50 per cent stake in GIFTCL. Notwithstanding the liability of GIFTCL, the Gujarat Government has agreed to pay positive equity value of 100 per cent of the IL&FS stake in GIFTCL, by which, the positive equity value of over Rs 32.70 crore will come to IL&FS.<\/p>\n
In its order the tribunal said that the applicant, IL&FS had submitted that the sale resolution has been conducted to ensure a fair resolution upholding the key principles of the value maximisation, commercial viability and financial stability for all stakeholders.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Principal Bench of National Company Law Tribunal (NCLT) has approved the stake sale of IL&FS in Gujarat International Finance Tec-City Company Limited (GIFTCL) to the Government of Gujarat. The crisis-ridden IL&FS holds 50 per cent stake in GIFTCL. Notwithstanding the liability of GIFTCL, the Gujarat Government has agreed to pay positive equity value of 100 per cent of the IL&FS stake in GIFTCL, by which, the positive equity value of over Rs 32.70 crore will come to IL&FS. In its order the tribunal said that the applicant, IL&FS had submitted that the sale resolution has been conducted to ensure […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-353723","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/353723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=353723"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/353723\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=353723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=353723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=353723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}