ARUNACHAL PRADESH: ITDC INKS SHARE TRANSFER AGREEMENT WITH APIDFC

A share transfer agreement between Indian Tourism Development Corporation Ltd (ITDC) and Arunachal Pradesh Industrial Development and Financial Corporation Ltd (APIDFC) for Hotel Donyi Polo Ashok, Itanagar was signed on Thursday with Chief Minister Pema Khandu witnessing the occasion.

As per the share agreement, 51% equity share is transferred from ITDC to APIDFC. The Hotel Donyi Polo Ashok Corporation Ltd is a joint venture project of ITDC and APIDFC established consequent upon execution of promoters’ agreement for JV project on 7th January 1982 on 51:49 ratios of equity shares.

After the signing of share transfer agreement, the govt of Arunachal Pradesh will own 100% in Hotel Donyi Polo Ashok through APIDFC and Ashok word will be deleted.