Update on Composite Scheme of Amalgamation
Source: RNS
November 11, 2021
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London Stock Exchange London |
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Dear Madam, Sirs,
Sub: 'Effective Date' of the Composite Scheme of Amalgamation of Bamnipal Steel Limited and Tata Steel BSL Limited (formerly Bhushan Steel Limited) into and with Tata Steel Limited
This has reference to our disclosures dated October 29, 2021, November 2, 2021 and November 11, 2021.
The Composite Scheme of Amalgamation of Bamnipal Steel Limited ('BNPL') and Tata Steel BSL Limited ('TSBSL') into and with Tata Steel Limited ('Scheme of Amalgamation') was approved and sanctioned by the Hon'ble National Company Law Tribunal, Mumbai bench vide Order dated October 29, 2021 ('NCLT Order').
We wish to inform you that the Company, BNPL and TSBSL (formerly Bhushan Steel Limited) have in terms of Clause 25.1.6 of the Scheme of Amalgamation, filed the Certified Copy of the NCLT Order, sanctioning the Scheme of Amalgamation with the respective jurisdictional Registrar of Companies, today, i.e., November 11, 2021. With this filing, the Company, BNPL and TSBSL have now complied with all the conditions specified in Clause 25.1 of the Scheme of Amalgamation.
Accordingly, in terms of Clause 3.1 read with Clause 1.9 of para III of Part I of Scheme of Amalgamation, the captioned Scheme of Amalgamation has become operative from today i.e., November 11, 2021 ('Effective Date').
This disclosure is being made in terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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