The board of directors of non-banking finance company IFCI today decided to initiate the process to allow Life Insurance Corporation to pare its stake from 11.35 per cent to 8.39 per cent.

<tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>While the decision was communicated to the stock exchanges, the company did not comment on the other issue on the agenda. 
</p><p class='TableClas'>The board was also scheduled to discuss ways to provide clarity to investors on how the government will deal with the optionally convertible debentures (OCDs) worth around Rs 900 crore held by it.
</p><p class='TableClas'>One of the options suggested by the three consultants appointed by IFCI 

LIC to pare stake in IFCI

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