Tata Steel consolidates all metal companies |
The board of directors of India`s Tata group has approved the amalgamation of all metal companies of Tata group into Tata Steel. The company board in its meeting on September 22 approved the merger of its seven metal companies with its parent metal company Tata Steel Limited. The seven metal companies of the Tata group that will be merged with Tata Steel are Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited, and S & T Mining Company Limited. The Tata group informed Indian stock market exchanges about the decision and said that the board of directors of the company at its meeting held on September 22, 2022, considered and approved the Schemes of Amalgamation of the seven companies. Each scheme is subject to the receipt of approval from the requisite majority of the shareholders of the respective Transferor Companies and Transferee Company; Competent Authority, SEBI, Stock Exchanges; and other such approvals, permissions, and sanctions of regulatory and other statutory or governmental authorities / quasi-judicial authorities, as necessary as per applicable laws.
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