Tata Steel approves merger of 7 subsidiaries with itself

ANI
23 Sep 2022, 09:07 GMT+10

New Delhi [India], September 23 (ANI): Tata Steel's board has approved the amalgamation of seven subsidiaries with itself, the steelmaker said in a regulatory filing to the stock exchanges on Friday.

The nod was received on Thursday at a meeting of its Board members.

These seven companies are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, The Indian SteelWire Products, Tata Steel Mining, and S and T Mining Company, the same filing said.

Each scheme was reviewed and recommended to the Board by the Committee of Independent Directors and the audit committee of the company, it added.

"Each Scheme is subject to the receipt of approval from the (a) requisite majority of the shareholders of the respective Transferor Companies and Transferee Company; (b) Competent Authority (as defined in each of the Schemes),(c) SEBI (d) The National Stock Exchange of India Limited and the BSE Limited (hereinafter collectively referred to as "Stock Exchanges"); and (e) such other approvals, permissions and sanctions of regulatory and other statutory or governmental authorities / quasi-judicial authorities, as may be necessary as per applicable laws." (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.

More Information

null in null

Business

Section

Air France unveils luxury first-class suite to lure elite travelers

Air France renews first-class suites in battle for high-rollers

PARIS, France: Air France is making a bold bet on luxury travel with the launch of an upgraded first-class suite, aiming to attract...

US homebuilding, manufacturing jump in February, but tariff costs loom

US homebuilding, manufacturing surge; tariffs cast pall over recovery

WASHINGTON, D.C.: U.S. home construction and manufacturing activity surged in February, but rising costs from tariffs and economic...

U.S. stock markets end marginally higher at week's-end

Soft day on Wall Street Friday, Dow Jones edges up 32 points

NEW YORK, New York - Uncertainty continues to plague investors on Wall Street with Friday's trading being volatile and weak. The major...

US factory output rises in February, led by auto rebound

US manufacturing output accelerates in February

WASHINGTON, D.C.: U.S. factories ramped up production in February, with a sharp rebound in motor vehicle output helping to drive manufacturing...

Israeli government asks Musk to submit tender on vehicle-provisioning

Israel invites Tesla to bid on supplying government vehicles

Elon Musk's Teslas' are in the running to take over the transport of Israel's government officials. Musk's company, Tesla Inc., has...

Trump seeks delay in US Steel-Nippon legal fight, talks ongoing

Trump administration seeks delay in Nippon Steel merger

WASHINGTON, D.C.: The Trump administration is seeking a delay in the legal battle between U.S. Steel and Nippon Steel over their blocked...

Delhi

Section