NCLT approves Tata Steel's merger with Indian Steel & Wire Products

08 Aug 2024 CW Team

The National Company Law Tribunal (NCLT) has approved the merger of Tata Group-owned Indian Steel & Wire Products Ltd with Tata Steel Ltd. The decision, made by the division bench of Justices KR Saji Kumar and Sanjiv Dutt, found the merger to be fair, reasonable, and compliant with legal requirements, and not contrary to public interest. Before the tribunal's decision, Tata Steel presented its case through senior advocate Zal Andhyarujina and the law firm Argus Partners. They argued that the merger would create a more robust entity under the Tata Steel brand, enhancing shareholder value through a streamlined "One-Tata Steel" approach.

The company emphasised that the merger would simplify the group's structure by consolidating Indian Steel & Wire Products into Tata Steel, which is expected to drive focused growth, operational efficiencies, and stronger business synergies. The new structure is also anticipated to increase the agility of Tata Steel's operations. The Tata Group initiated this consolidation process in 2022, aiming to merge its metal and resource subsidiaries into a single entity. This includes three listed companies "Tata Metaliks Ltd, Tata Steel Long Products Ltd, and The Tinplate Company of India Ltd" and three unlisted entities Indian Steel & Wire Products Ltd, Tata Steel Mining Ltd, and S & T Mining Company Ltd.

The merger aligns with the group's 5S strategy simplification, synergy, scale, sustainability, and speed by reducing administrative complexities and costs associated with maintaining separate entities.

(ET)

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..