Author: columbuskirkcald
Cabinet approves Transfer of 10 In-orbit Communication Satellites from Government of India to M/s. NewSpace India Ltd.(NSIL)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the transfer of 10 in-orbit communication satellites from Government of India (Gol) to M/s.NewSpace India Ltd. (NSIL), a wholly owned Public Sector Enterprise of GOI under the administrative control of the Department of Space.
The Union Cabinet has also approved increasing the authorized share capital of NSIL from Rs.1000 crore to Rs.7500 crore.
Transfer of these assets to NSIL will further provide the desired financial autonomy to the company to realize capital intensive programmes/ projects and thereby offering huge employment ... Read more