(a) whether any new subsidiary India Infrastructure Finance Company (IIFC)-Projects Ltd. has come into operation;
(b) if so, the details thereof along with responsibilities and periodicity;
(c) whether funds are allotted thereto and if so, the details thereof; and
(d) if not, the source of income for this project?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) & (b): India Infrastructure Finance Company Limited has incorporated a new subsidiary namely India Infrastructure Finance Company Projects Ltd. (IPL). IPL is set up to provide Infrastructure projects development and advisory services.
(c): India Infrastructure Finance Company Limited has till date subscribed one lakh equity shares of Rs. 10 each aggregating to Rs. 10 lakh.
(d): IPL will earn its income from the Project Advisory services offered to clients.