(a) whether the MTNL after its formation invested its funds in
the schemes of other departments to increase its earnings;
(b) if so, the details thereof;
(c) the details of the companies where the MTNL invested its
funds and now they are not refunding the amount or the companies
have become bankrupt; and
(d) the steps being taken by the Government to recover its money?
THE MINISTER OF STATE IN THE MINISTRY OF COMMUNICATIONS AND INFROMATION TECHNOLOGY (DR. SHAKEEL AHMAD)
(a) Yes, Sir.
(b) The details are as under:
Name of Institutions Amount and date of Nature of Investment Investment
M/s ITI Ltd. (A PSU Rs. 100 crores on 31-03-2002 8.75% Cumulative under Ministry of Redeemable Communications & IT) Preference Shares.
M/s Maharashtra Rs. 250 crores on 14-05-2002 Secured, Krishna Valley Redeemable Development Bonds, having Corporation ( A Interest rate of Govt. of Maharashtra 11.5% p.a. Undertaking) interest payment is upto date.