Mahanagar Telephone Nigam to Transfer Properties Worth INR684 Million to Indian State
MT Newswires Live
Mar 24
Mahanagar Telephone Nigam (NSE:MTNL, BOM:500108) has signed a memorandum of understanding with the Government of Bihar for the transfer of leasehold rights of seven residential properties in New Delhi, India, for 684.3 million rupees, according to a Tuesday filing on Indian bourses.
The properties are located at the Asian Games Village Complex, and the state government has deposited the full consideration amount, the company said.
The MoU is subject to regulatory approvals and will remain valid for six months or until completion of the transfer, whichever is earlier, the filing said.
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