Cabinet gives nod to redemption of 7 per cent NCFs of NBCC

New Delhi, May 9 (UNI) The Cabinet today gave its ex-post-facto approval for redemption of seven per cent of Non-cumulative preference shares (NCFs), which was due in FY07 on August 22, 2007.

''It will help in regularisation of redemption (redeemed on August 22, 2007) of the seven per cent NCFs in the financial year 2007-08 instead of Financial Year 2006-07 by NBCC Limited,'' Finance Minister P Chidambaram said.

UNI AK SR SK KP1334