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dated April 19, 1956: Take-over of KGF mines

The Government of India has practically decided to permit the Mysore Government to take over the Kolar Gold Fields. The question of compensation to be paid to the company is now under consideration. The total compensation is not likely to exceed Rs.2 crores. The Government of India is anxious that the matter should be dealt with in a liberal way so as not to create misgivings among foreign investors.

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