The Department of Telecommunications (DoT) has asked the Ministry of Finance for Rs 68.3 billion to revive Indian Telephone Industries (ITI) Limited.
Prior to this, over the last few years, the government had already given ITI Limited Rs 40 billion to help stem its losses.
Also, in May 2009, the government had opened bids for the company, but this was wholly unsuccessful. After the first deadline for bids expired in April 2010, the government had to extend the deadline thrice.
In the fourth attempt, the Liberty Group expressed interest, but its bid was rejected on technical grounds.
It is believed that this issue is on the agenda of the Telecom Commission?s next meeting.
