The NCLT has approved the merger of Tata Steel Long Products and Tata Steel.
economics times
India
23-10-2023
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Tata Steel Long Products Ltd. announced on Thursday that the National Company Law Tribunal (NCLT) had given its approval for the company to be merged with Tata Steel Ltd. Tata Steel will combine itself with Tata Steel Long Products and six other subsidiaries.
Tata Steel Long Products claimed in a regulatory filing that the NCLT's Cuttack bench had approved the plan to merge the business with Tata Steel on October 18.
T V Narendran, the CEO and MD of Tata Steel, had previously stated that the merger of the subsidiary companies with itself is anticipated to be finished in 2023–2024.
Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining, and S&T Mining Company are the subsidiaries that will be merged with Tata Steel.