Tata Steel approves merger of 7 subsidiaries with itself

ANI
23 Sep 2022, 13:37 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 Shanghai Sun.

More Information

10 ℃

Fair in Shanghai/Hongqiao

International

Section

Chinese court to examine disappearance of Malaysia Airlines jet

BEIJING, China: The Chaoyang District Intermediary Court in Beijing has begun compensation hearings for the Chinese relatives of those who ...

Israel ignores U.S., as civilian casualties start mounting in Gaza again

Israel resumed its military operation in the Gaza Strip on Friday with heavy bombardments. As strikes continue, the United States ...

Failed wheel bearing caused Kentucky train derailment: CSX

LIVINGSTON, Kentucky: CSX railroad said that a failed wheel bearing on a train car caused a derailment on November 22 ...

Finland says Russia to blame for migrant crowding eastern border

HELSINKI, Finland: After Finland joined the North Atlantic Treaty Organization (NATO) earlier this year, hundreds of migrants from the Middle ...

Heavy snowfall, blizzards reported in Moldova, Romania and Bulgaria

CHISINAU, Moldova: Over the weekend, heavy snowfall and strong blizzards in Romania, Moldova and Bulgaria left one person dead and ...

House Ethics Committee report results in Santos expulsion

WASHINGTON D.C.: After a House Ethics Committee report found substantial evidence that he broke the law, New York Republican representative ...

Asia Business

Section