Ifci

Last month, IFCI sold its entire 2.44 per cent stake in the NSE for a consideration of Rs 805.6 crore.

The second case in which the CBI carried out searches pertains to ‘Trinethra Infra Ventures’ Ltd and its senior executives for allegedly cheating non-banking finance company IFCI to the tune of Rs 11.77 crore.

Currently, the Centre holds 56.42 per cent stake in IFCI.

The sale will be on ‘as-is-where-is and what-is-where-is basis’ and without any recourse to IFCI,” the lender said in the sale document.

Blue Coast had mortgaged its luxury 250-room hotel in Goa with IFCI against loan taken for its expansion programmes.

IFCI’s ability to borrow at competitive rates will be critical for it to extend competitive lending rates, and for the sustainability and growth of its business.

Lenders to AML are State Bank of India, Punjab National Bank, ICICI Bank, IFCI, Punjab & Sind Bank, UCO Bank, Allahabad Bank, Bank of Baroda, Corporation Bank and SREI Infrastructure Finance, among others.

The Kerala State Industrial Development Corporation (KSIDC) appointed IFCI Limited, ICRA, and IACS to conduct a Techno Economic Feasibility (TEF) study and an Environment Impact Assessment (EIA).