ITI to Monetize 91-Acre Bengaluru Land for Rs 3,473 Cr, Clear Dues

• ITI Ltd plans to monetize 91.43 acres of land in Bengaluru, valued at Rs 3,473.14 crore.
• The move aims to clear bank borrowings of Rs 1,325 crore and statutory/employee dues of Rs 339 crore.
• Union minister Pemmasani Chandrasekhar confirmed the plan in Lok Sabha, stating parcels are in Krishnarajapura.
• Key parcels include a 44.03-acre plot (Rs 1,651.20 crore) and a 21-acre plot for the GST department (Rs 823.20 crore).
• Labor unions, including Karnataka General Labour Union-ITI Unit, protest, alleging the sale benefits private firms and highlights issues with contract workers.

Why It Matters: ITI plans to sell Bengaluru land worth Rs 3,473 Cr to clear debts and employee dues amidst protests.