ITI Ltd Receives Rs. 25 Crores from C-DOT as Land Dispute Settlement

ITI Limited has been informed about the order of AMRCD proceedings with the stock exchanges regarding the land dispute between ITI and C-DOT. Pursuant to the revised AMRCD order, ITI Limited will transfer 22.258 acres of its land situated at Electronic City, Bangalore to C-DOT through a sale deed for a consideration of Rs. 200 Crores. The company has already received a tranche of Rs. 25 Crores from C-DOT as part of the executed sale agreement. The remaining balance of the consideration is expected to be received after the completion of remaining statutory formalities by the company.