Tata Motors shareholders give nod to hive-off PV biz into new entity
By IANS |
Published on
Mon, Mar 8 2021 19:27 IST |
0 Views
Tata Motors to buy Marcopolo s stakes in bus, coach JV for Rs 99.96 cr. Image Source: IANS
Mumbai, March 8 : Shareholders of Tata Motors have approved the hiving off of its passenger vehicles business into a separate entity.
The shareholders on March 5, resolution for approving the scheme of arrangement between Tata Motors Limited (transferor company ) and TML Business Analytics Services Limited (transferee company) and their respective shareholders under Section 230-232 of the Companies Act, 2013.
In a regulatory filing on Monday, Tata Motors said that over 99.96 per cent of the total votes came in support of the resolution.
Tata Motors shareholders give nod to hive-off PV biz into new entity
indianweekender.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indianweekender.co.nz Daily Mail and Mail on Sunday newspapers.
Tata Motors Car Business Accumulated Losses Of Rs 11,173 Crore
moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
BW Businessworld
Passenger Vehicles Unit Valued At Rs 9,417 Cr: Tata Motors
Tata Motors had announced that it would turn its domestic passenger vehicle (PV) business unit into a separate unit and seek a strategic partnership in order to help the unit secure its long term viability.
Photo Credit :
Tata Motors passenger vehicles business unit, which is in the process of being hived off into a separate entity, has been valued at Rs 9,417 crore, according to a regulatory filing by the company.
The homegrown auto major has called a meeting of the secured creditors as well as equity shareholders of the company on March 5 to consider and approve the transfer of the passenger vehicles business unit to TML Business Analytics Services Ltd as a going concern on a slump sale basis for a lump sum consideration, Tata Motors Ltd (TML) said.