Tata Motors completes sale of defense business to TASL sierraleonetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sierraleonetimes.com Daily Mail and Mail on Sunday newspapers.
April 01, 2021
Acquisition expected to help ITC ramp up its spices portfolio under Aashirvaad brand Diversified conglomerate ITC Ltd said on Thursday that the scheme of amalgamation of Sunrise Foods has been sanctioned by NCLT, Kolkata Bench.
The scheme of amalgamation is effective April 1.
Two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah are now wholly-owned subsidiaries of ITC too.
“.the Scheme of amalgamation of Sunrise Foods Private Limited (Sunrise) with the Company (the Scheme) has been sanctioned by National Company Law Tribunal, Kolkata Bench. Certified copies of the order have been filed today with the Registrar of Companies, West Bengal, both by the Company and Sunrise,” it said in a notification to the bourses.
A thumping win for Tatas but many questions remain
The National Company Law Tribunal in March 2017 first ruled in favour of the Tata Group, but that was reversed by the Appellate Tribunal that ordered Mistry be reinstated.
Share Via Email
| A+A A-
Cyrus Mistry. (Photo | File/Reuters)
In a recent judgment, the Supreme Court upheld the Tata Sons board’s decision removing Cyrus Mistry as executive chairman of the company in October 2016. In a thumping decision in favour of the Tatas, the apex court also dismissed petitions against the group alleging oppression of minority rights and mismanagement. The judgment has finally brought down the curtains on a no-holds barred firefight that has gripped corporate India over the last four years. The removal of Cyrus Mistry, the first non-Tata executive chairman of the company, led to a ding-dong battle. The National Company Law Tribunal in March 2017 first ruled in favour of the Tata Group, but that was reversed by the Appellate T
NCLT approves amalgamation of Sunrise Foods with ITC, says company
SECTIONS
Share
Synopsis
In a notice to the stock exchanges, ITC said the Kolkata bench of NCLT has approved the amalgamation effective April 1, 2021. It also said the two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah have become wholly owned subsidiaries of ITC.
Agencies
ITC Ltd on Friday said the National Company Law Tribunal (NCLT) has approved the amalgamation of its recently acquired spice company Sunrise Foods with itself.
In a notice to the stock exchanges, ITC said the Kolkata bench of NCLT has approved the amalgamation effective April 1, 2021. It also said the two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah have become wholly owned subsidiaries of ITC.
IL&FS completes stake sale in China road asset; deal to address Rs 2,600 crore debt
The transaction will help the group address Rs 2,600 crore of its overall debt of close to Rs 99,000 crore (as of October 2018).
Share Via Email
| A+A A- By PTI
MUMBAI: Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Thursday announced completion of 49 per cent stake sale in its Chinese road asset - Chongqing Yuhe Expressway Co Ltd (CYEC).
The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants, a release from IL&FS Group said.