Union Cabinet approves capital infusion made in IIFCL in 2007-08 to 2012-13

Capital infusion of Rs 2600 crore made in IIFCL in 2007-08 to 2012-13

The Union Cabinet chaired by the Prime Minister Narendra Modi, has given its ex-post facto approval to the capital infusion of Rs 2600 crore made in India Infrastructure Finance Company Ltd. (IIFCL). During 2007-08 to 2012-13, as approved in the Demand for grants to support the future growth of the company.

The capital infusion was made as approved in the Demands for Grants and consented by the Finance Minister to support the future growth of the company.

IIFCL, a wholly owned Government of India company, was, incorporated on January 5, 2006 under the Companies Act, 1956 with an authorized share capital of Rs 1000 crore. It commenced its, operations from April 2006. IIFCL was mandated to provide long term debt to viable' infrastructure projects in terms of the Scheme for Financing Viable Infrastructure Projects through IIFCL (broadly referred to as SIFTI).

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