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Tata Motors on Monday said that its shareholders have approved the hiving off the passenger vehicle (PV) business into a separate entity. On March 5, the shareholders of the auto major had voted on a proposal to transfer the passenger vehicles unit to TML Business Analytics Services Ltd as a going concern. TML Business Analytics will pay a lump sum for the transfer which will take place on a slump sale basis. In a regulatory filing, Tata Motors said around 215.4 crore votes were polled of which around 215.3 crore were in favour of the resolution. This translates into 99.96 per cent of the vot...

Read more about Tata Motors shareholders approve hiving off PV business into new entity on Business Standard. The company had said that its passenger vehicles business has been valued at Rs 9,417 crore

Tata Motors gets shareholders' nod to hive off PV business into new entity Of the total 215.41 crore votes polled, 215.32 crore, or 99.958 per cent, were in favour of the resolution, Tata Motors said. BusinessToday.In | March 8, 2021 | Updated 19:30 IST Last year, the company's board had approved a plan to subsidiarise its passenger vehicles business into a separate subsidiary through a scheme of arrangement. Tata Motors Ltd has received its shareholders' approval to hive off its passenger vehicle business into a separate subsidiary. The company's shareholders voted on March 5 to consider a...

Tata Motors shareholders approve hiving off passenger vehicle business into new entity SECTIONS Last Updated: Mar 08, 2021, 02:17 PM IST Share Synopsis On March 5, the shareholders of the company voted 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. Getty Images Tata Motors on Monday said its shareholders have approved hiving off its passenger vehicles business into a separate entity. On March 5, the shareholders of the company voted to consider and approv...

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 ...