Kolkata, April 5 (IANS) – G.D. Mundra has resigned as the Director of Tourism Finance Corporation India Ltd (TFCIL), marking a significant leadership shift within the public finance institution. In a recent move, 22,23,000 shares were transferred to Aditya Kumar Halwasiya, giving him a controlling stake in the company.
In March, TFCIL informed the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) about the share transfer at a rate of Rs 225 per share. This decision was approved at the Annual General Meeting, solidifying Halwasiya’s ownership of over 15 per cent of the company and establishing his influence over TFCIL’s operations.
Halwasiya expressed confidence in the Board and management of TFCIL, stating, “I am proud to be a stakeholder and very upbeat on the journey ahead for the company, just as Bharat is in the middle of a multi-year tourism boost.” TFCIL, established in 1989, is a key player in providing finance and advisory services to the tourism sector in India, as well as other sectors.
Over the last three decades, TFCIL has played a crucial role in the development of star-category hotel rooms and tourism attractions across India, including resorts in popular destinations like Kerala and Goa. Additionally, TFCIL has been associated with projects such as the Palace on Wheels luxury train, showcasing its impact on the tourism industry in the country.
The resignation of Mundra and the subsequent transfer of shares to Halwasiya marks a new chapter in TFCIL’s leadership and direction, with potential implications for the company’s future strategies and initiatives. Stay tuned for more updates on this developing story.
