ITDC chairman gives Rs 18.88 cr dividend cheques to Union Tourism Minister.

Chairman & Managing Director of India Tourism Development Corporation (ITDC) Shri Umang Narula, on behalf of India Tourism Development Corporation (ITDC) and Kumarakruppa frontier Hotels Pvt. Ltd., handed over two cheques amounting to Rs 18.88 crore to Union Tourism Minister Shri Mahesh Sharma today, towards dividend payment to the Government of India for the year 2014-15. Present on the occasion were Secretary – Ministry of Tourism – Shri Vinod Zutshi, Joint Secretary, Shri Suman Billa, Ministry of Tourism, V.P. (Finance), Shri P K Aggarwal, ITDC alongwith other Sr. officials of MOT & ITDC. The ceremony took place at Minister’s office at Transport Bhawan, New Delhi.

The decision for the payment of Dividend was taken during ITDC 50^th Annual General Meeting held at the Group’s flagship hotel, The Ashok, New Delhi.

It may be noted that ITDC, a PSU under the administrative control of the Ministry of Tourism has declared a dividend of 20% amounting to Rs.17.15 crore for 2014-15, the highest ever in terms of amount and the highest since 2007-08 in terms of percentage and Kumarakruppa Frontier Hotels Pvt. Ltd., another PSU under the Ministry of Tourism has declared a dividend of 450% amounting to Rs.4.39 crore for 2014-15.