ITI Limited Appoints Shri Arun Agarwal as Government Nominee Director

1 min read     Updated on 29 Jul 2025, 10:04 AM
scanxBy ScanX News Team
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Overview

ITI Limited has appointed Shri Arun Agarwal as the new Government Nominee Director, effective July 22, 2025. Agarwal, currently Deputy Director General (Satellite) at the Department of Telecommunications, replaces Sh. Sunil Kumar Verma. The appointment is for three years or until further notice. A board meeting is scheduled for July 30, 2025, to consider allotting equity shares to the President of India against a capital expenditure infusion of Rs. 59.00 crore.

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*this image is generated using AI for illustrative purposes only.

ITI Limited , a government-owned telecommunications equipment manufacturer, has announced a significant change in its board composition. The company has appointed Shri Arun Agarwal as the new Government Nominee Director, effective July 22, 2025.

Key Details of the Appointment

Detail Information
New Director Shri Arun Agarwal
Position Government Nominee Director
Effective Date July 22, 2025
Term Three years or until further notice
Director Identification Number (DIN) 05270538

Background and Replacement

Shri Arun Agarwal, who currently serves as Deputy Director General (Satellite) at the Department of Telecommunications (DoT), replaces Sh. Sunil Kumar Verma on the ITI Limited Board. The appointment comes through an order from the Ministry of Communications, underlining the government's continued involvement in the company's governance.

Terms of Appointment

The appointment of Shri Agarwal is set for a period of three years, commencing from July 22, 2025. However, the term is subject to either his superannuation or further orders from the government, whichever occurs first. This flexibility in the appointment duration allows for potential changes in line with government policies or organizational needs.

Compliance and Eligibility

ITI Limited has confirmed that Shri Arun Agarwal is not debarred from holding the office of director by any order of the Securities and Exchange Board of India (SEBI) or any other regulatory authority. This compliance ensures that the appointment adheres to all necessary corporate governance standards.

Company Secretary Statement

Y Sathyan, Company Secretary & Compliance Officer of ITI Limited, has officially communicated this change to the stock exchanges, fulfilling the company's obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Upcoming Board Meeting

In a separate announcement, ITI Limited has informed that a meeting of its Board of Directors is scheduled for July 30, 2025. The agenda includes considering and approving the allotment of equity shares to the President of India on a preferential basis. This allotment is against a capital expenditure infusion of Rs. 59.00 crore, as per the revival package outlined in the BIFR (Board for Industrial and Financial Reconstruction) order dated January 8, 2013.

The appointment of Shri Arun Agarwal and the upcoming board meeting to discuss equity allotment highlight ITI Limited's ongoing efforts to strengthen its governance and financial position, in line with government initiatives for public sector enterprises.

Historical Stock Returns for ITI

1 Day5 Days1 Month6 Months1 Year5 Years
-1.62%-5.78%-13.35%-11.60%-6.06%+119.21%

ITI Limited to Consider Rs. 59 Crore Equity Allotment to President of India

1 min read     Updated on 28 Jul 2025, 05:46 PM
scanxBy ScanX News Team
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Overview

ITI Limited, a government undertaking, has scheduled a board meeting for July 30, 2025, to consider allocating shares worth Rs. 59.00 crore to the President of India on a preferential basis. This move is part of a BIFR revival package ordered on January 8, 2013. The board may also discuss other agenda items during the meeting. The company has informed both BSE and NSE about this meeting in compliance with SEBI regulations.

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*this image is generated using AI for illustrative purposes only.

ITI Limited , a government undertaking, has announced a crucial board meeting scheduled for July 30, 2025, to deliberate on a significant equity allotment. The company, known for its telecommunications equipment manufacturing, is set to consider the allocation of shares to the President of India on a preferential basis.

Key Points of the Announcement

  • Board Meeting Date: July 30, 2025
  • Primary Agenda: Consideration and approval of equity share allotment to the President of India
  • Capital Infusion: Rs. 59.00 crore (Rupees Fifty Nine Crore Only)
  • Basis of Allotment: Preferential basis
  • Purpose: Part of the BIFR revival package order dated January 8, 2013

Background and Implications

The proposed equity allotment is not a standalone decision but part of a larger revival strategy for ITI Limited. The move stems from a Bifurcated Industrial Financial Reconstruction (BIFR) order issued over a decade ago, on January 8, 2013. This capital infusion of Rs. 59.00 crore is expected to strengthen the company's financial position and support its ongoing revival efforts.

Regulatory Compliance

In adherence to regulatory requirements, ITI Limited has duly informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) about the upcoming board meeting. This transparency aligns with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring that all stakeholders are kept informed of significant corporate actions.

Additional Agenda

The company has also indicated that the board may consider other agenda items with the permission of the Chairman during the meeting. This leaves room for potential additional decisions that could impact the company's future direction.

ITI Limited's move to consider this equity allotment reflects the ongoing efforts of the government to revitalize public sector undertakings. Shareholders and market observers will be keenly watching the outcome of this board meeting, as it could have significant implications for the company's capital structure and future growth prospects.

Historical Stock Returns for ITI

1 Day5 Days1 Month6 Months1 Year5 Years
-1.62%-5.78%-13.35%-11.60%-6.06%+119.21%
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