In a filing to the BSE, Tamil Nadu Telecommunications Ltd (TTL), informed that the Union cabinet has given approval to Telecommunications Consultants India Ltd (TCIL) to increase stake in TTL up to 49 %.TCIL will increase its investment in TTL from Rs 6.95 crore to Rs 22 crore.
The Union Cabinet also gave its approval to authorise TCIL to provide bridge loans to the extent of Rs 12.5 crores till loans from banks are organised. Major portion of this loan is towards one time settlement of consortium banks loans. |