On 10 April 2013
The board of Tata Metaliks (TML) in its meeting held on 10 April 2013 has approved the amalgamation of TML with Tata Steel (TSL) with effect from 01 April 2013.In terms of the scheme, TML will be amalgamated with TSL followed by the dissolution of the company without winding up.
The shares held by TSL in TML shall get extinguished and the public shareholders of TML shall be issued shares of TSL in the ratio of four equity shares of Rs 10 each of TSL for every twenty nine equity shares of Rs 10 each of TML in terms of the scheme.
Further, Tata Metaliks Kubota Pipes, a subsidiary of the company at their meeting held on 10 April 2013 has also approved the amalgamation of their company with TSL.
Powered by Capital Market - Live News