MTNL Agrees to Transfer Leasehold Rights of Seven Residential Properties to Government of Bihar for Rs 68.43 Crore

Mahanagar Telephone Nigam Ltd (MTNL) has entered into a Memorandum of Understanding (MoU) with the Government of Bihar to transfer the leasehold rights of seven residential properties situated at Asian Games Village Complex (Khelgaon), New Delhi. The agreed valuation for the properties is Rs 68.43 Crore (Rupees Sixty Eight Crore and Forty Three Lakh only). The Government of Bihar has already deposited the full amount with MTNL. The MoU will remain in force for a period of six months from the date of signing or until the completion of the transfer of leasehold right, whichever is earlier. The disclosure is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.