ITI Ltd Receives Rs. 16 Crores EMD from CGST for Land Parcel Valuation

ITI Limited has received an Earnest Money Deposit (EMD) of Rs. 16 Crores from the Central Goods and Services Tax Department (CGST) for the procurement of a 21-acre land parcel located at K.R. Puram, Bengaluru. The EMD is in accordance with the DPE/ NLMC norms for an indicative value of Rs. 800 crores. The final valuation of the land will be determined by NLMC. Once the transactions are finalized by the CGST Department, the EMD amount will be adjusted against the final transaction value.