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

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

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)

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)

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Next Story
Infrastructure Transport

Cabinet Approves Phase-1B of Lucknow Metro Rail Project Worth Rs 58.01 Bn

The Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase-1B of the Lucknow Metro Rail Project in Uttar Pradesh. This phase covers an 11.165 km corridor with 12 stations—7 underground and 5 elevated—extending the city’s metro network to 34 km upon completion.Phase-1B targets the dense, historic parts of Lucknow, enhancing connectivity across key commercial, healthcare, tourist, and culinary hubs. Important areas served include Aminabad, Yahiyaganj, Pandeyganj, Chowk, King George’s Medical University, and landmarks like Bara Imambara and Rumi Darwaza.This expansion prom..

Next Story
Infrastructure Transport

Major Upgrades Planned for Tamil Nadu’s National Waterways

Tamil Nadu is poised for significant infrastructure upgrades across its National Waterways (NWs), with a focus on developing jetties, cargo hubs, and cruise tourism circuits, according to the Ministry of Ports, Shipping and Waterways. These projects aim to promote sustainable inland water transport and boost regional economic activity.Key projects include the development of Buckingham Canal (part of NW-4), with jetties planned at the following locations:Mahabalipuram to Ediyur BridgeCooum River near Marina BeachPulicat LakeEnnore Port to ETPS, specifically for cargo operationsOther National Wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?