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Tata Steel Limited (TTST)

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Thursday 25 April, 2019

Tata Steel Limited

Tata Steel Ltd. - Composite Scheme of Amalgamation

RNS Number : 1488X
Tata Steel Limited
25 April 2019

April 25, 2019


London Stock Exchange



Dear Sir, Madam,


Subject:          Outcome of the Board Meeting held on April 25, 2019


Re:                  Intimation of Composite Scheme of Amalgamation of Bamnipal Steel Limited ('Transferor Company 1') and Tata Steel BSL Limited [formerly known as Bhushan Steel Limited] ('Transferor Company 2') into and with Tata Steel Limited ('Company' or 'Transferee Company') ('Scheme').


In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, we wish to submit that the Board of Directors of the Company at its meeting held today i.e. April 25, 2019, inter alia, have considered and approved the aforesaid Scheme pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with the rules framed thereunder and SEBI Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017, as amended from time to time, for the amalgamation of the Transferor Company 1, a wholly owned subsidiary of the Company, and the Transferor Company 2, an indirect subsidiary of the Company, into and with the Company, subject to the requisite statutory and regulatory approvals.


It may be noted that the proposed Scheme has been reviewed and recommended for approval by the Audit Committee of the Company at its meeting held on April 25, 2019.


Pursuant to Regulation 30 of the Listing Regulations, details in respect of the amalgamation of the Transferor Company 1 and the Transferor Company 2 with the Company are enclosed herewith as Annexure I


This is for your information and records.

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