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        News and Press Release

        CMD, IFCI Ltd. Presents A Dividend Cheque of ₹ 92.30 Crore to the Union Finance Minister

        September 17, 2014

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        Shri Malay Mukherjee, Chief Executive Officer & Managing Director, IFCI Ltd. presented a Dividend Cheque of ₹ 92.30 Crore to the Union Finance Minister Shri Arun Jaitley here today. This 10% dividend is for the Financial Year 2013-14.

        IFCI had paid 10% dividend to the Government of India last Financial Year also. The Government of India is holding a majority stake of 55.53% equity shareholding in IFCI Ltd.

        Dividend distribution: majority government shareholder receives corporate dividend for the fiscal year under state ownership. Presentation of a dividend cheque by IFCI Ltd. formalises distribution of a declared 10% dividend for the financial year 2013-14 to its majority shareholder, with the company's managing director presenting the cheque to the Union Finance Minister and noting continuity of the dividend policy and the government's controlling equity stake.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Dividend distribution: majority government shareholder receives corporate dividend for the fiscal year under state ownership.

                                Presentation of a dividend cheque by IFCI Ltd. formalises distribution of a declared 10% dividend for the financial year 2013-14 to its majority shareholder, with the company's managing director presenting the cheque to the Union Finance Minister and noting continuity of the dividend policy and the government's controlling equity stake.


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