PTI has reported that Tata Steel, as announced earlier in September 2022 expects to complete the merger of its seven subsidiaries with itself in the next financial year depending on regulatory approvals, including that from the National Company Law Tribunal. Tata Steel will first work to complete the merger of these seven companies before it plans for merger of more subsidiary companies with itself. The seven subsidiaries to be merged with Tata Steel are Angul EnergyIndian Steel & Wire ProductsS&T Mining CompanyTata MetaliksTata Steel Long ProductsTata Steel MiningThe Tinplate Company of IndiaTRFTata Steel CEO & MD Mr TV Narendran told PTI “However, the company has no plans to merge the recently acquired Neelachal Ispat Nigam Ltd, which it acquired last year for about INR 12,000 crore. According to the terms of purchase with the government, a new asset has to be run as a separate legal entity for three years. Tata Steel will decide on NINL later.”
PTI has reported that Tata Steel, as announced earlier in September 2022 expects to complete the merger of its seven subsidiaries with itself in the next financial year depending on regulatory approvals, including that from the National Company Law Tribunal. Tata Steel will first work to complete the merger of these seven companies before it plans for merger of more subsidiary companies with itself. The seven subsidiaries to be merged with Tata Steel are Angul EnergyIndian Steel & Wire ProductsS&T Mining CompanyTata MetaliksTata Steel Long ProductsTata Steel MiningThe Tinplate Company of IndiaTRFTata Steel CEO & MD Mr TV Narendran told PTI “However, the company has no plans to merge the recently acquired Neelachal Ispat Nigam Ltd, which it acquired last year for about INR 12,000 crore. According to the terms of purchase with the government, a new asset has to be run as a separate legal entity for three years. Tata Steel will decide on NINL later.”
