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Arunachal govt takes full ownership of Donyi Polo Ashok Hotel

Press Trust of India  |  Itanagar 

The government has taken full ownership of the Donyi Polo Ashok Hotel here, an official statement said.

A share transfer agreement to this effect was signed between Tourism Development Corporation Ltd (ITDC) and Industrial Development and Financial Corporation Ltd (APIDFC) here yesterday.

was also present during the agreement signing ceremony, the release said.

The will now own 100 per cent share in the centrally located 3-star hotel in Itanagar through the APIDFC, and the word Ashok will be done away with.

As per the share agreement, 51 per cent equity share has been transferred from ITDC to APIDFC.

The is a joint venture project of ITDC and APIDFC established consequent upon execution of promoters agreement for JV project on January 7, 1982 on 51:49 ratios of equity shares, the release added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 14:50 IST