CCI approves merger of TCCL and TCFSL into TCL

16 Aug 2023 CW Team

The Competition Commission of India (CCI) has granted approval for the merger of Tata Cleantech Capital Limited (TCCL) and Tata Capital Financial Services Limited (TCFSL) into Tata Capital Limited (TCL). This proposed consolidation entails the integration of TCFSL and TCCL under the banner of TCL.

TCL is recognized by the Reserve Bank of India (RBI) as a Systemically Important Non-Deposit Accepting Core Investment Company (CIC). Its primary function involves holding investments in subsidiary entities, and actively involved in lending operations. It also offers a comprehensive range of financial services and products, including management and advisory services for private equity funds, all in accordance with RBI directives and guidelines for CICs.

Being a wholly-owned subsidiary of TCL, TCFSL is registered with the RBI as a Systemically Important Non-Deposit Accepting Non-Banking Financial Company. Its core activities revolve around lending services and providing various financial products and services.

TCCL, on the other hand, functions as a subsidiary of TCL and is designated as a Systemically Important Non-Deposit Accepting Non-Banking Financial Company by the RBI. TCCL's business operations primarily focus on offering cash flow-based financial solutions and advisory services for an array of projects spanning renewable energy, energy efficiency, waste management, water management, and other infrastructure projects.

This strategic merger aligns with the ongoing developments in the financial services sector, paving the way for greater synergy within the Tata Group's financial arm.

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