ITC Limited has acquired further 56,000 Ordinary
Shares of Nepalese Rupees 100/- each of Surya Nepal Private Limited (Surya Nepal), earlier
known as Surya Tobacco Company (P) Limited, a company incorporated under the laws of
Nepal. With this acquisition, the total shareholding of the Company in Surya Nepal has
gone up from 49% to 59%. As a consequence, Surya Nepal has become a subsidiary of the
Company with effect from 20th August, 2002.
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