All metal companies of Tata Group amalgamated into Tata Steel

1 week ago

The Board of Directors of Tata Group approved the amalgamation of all its metal companies into Tata Steel. The board of the company met on Thursday and gave its go-ahead to merge the seven metal companies into Tata Steel, according to a BSE filing.

The seven companies that will be merged into 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, S & T Mining Company Limited.

Some details of the companies shared by Tata group are as follows

Tata Steel Long Products Limited (‘TSLP-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’). The Tinplate Company of India Limited (‘TCIL-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’). Tata Metaliks Limited (‘TML-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’). TRF Limited (‘TRF-Transferor Company’) into and with Tata Steel Limited (‘Transferee Company’). The Indian Steel & Wire Products Limited (‘ISWP-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’). Tata Steel Mining Limited (‘TSML-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’); and S & T Mining Company Limited (‘S & T Mining-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’)

According to the BSE filing, Tata Group said that each of these companies was reviewed and recommended to the Board by the Committee of Independent Directors and the Audit Committee of the Company.

"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 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 law", the company said in its filing.

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