ITI Ltd to Transfer 22.258 Acres of Land to C-DOT for Rs. 200 Crores

ITI Limited has been informed about the order of AMRCD proceedings with the stock exchanges regarding a land dispute between ITI and C-DOT. As per the revised order from AMRCD, ITI Limited is required to 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 Crores. ITI Limited has already received a tranche of Rs. 50 Crores from C-DOT as part of the executed sale agreement. The remaining balance is expected to be received after the completion of other statutory formalities.