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73,651.35
+655.04
+0.90 %
Corporate Announcement
Security Code
500570
Company
TATA MOTORS LTD.
Exchange Received Time
03/05/2018 20:23:55
Exchange Disseminated Time
03/05/2018 20:24:01
Time Taken
00:00:06
Announcement under Regulation 30 (LODR)-Scheme of Arrangement |
05/03/18 20:23
Please be informed that the Board of Directors has, at its meeting held today, approved (subject to the requisite regulatory and other approvals) the following:
1. Sale of Company's defense business to Tata Advanced Systems Limited (TASL), a wholly-owned subsidiary of Tata Sons Limited (Company's Promoter) by way of a Scheme of Arrangement to be entered into between the Company, TASL and their respective members and/or creditors, as the case may be, pursuant to the provisions of Sections 230 to 232 of the Companies Act, 2013 and the rules made thereunder. ('Defense Business Transfer')
2. Sale of Company's shareholding in TAL Manufacturing Solutions Limited (TAL), a wholly-owned subsidiary, to TASL ('TAL Divestment')
Enclosed are the following:
a)Press release being issued by the Company in this regard - Annexure A.
b)Details for the proposed Defense Business Transfer - Annexure B and For the proposed TAL Divestment - Annexure C
Attachment
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