India’s Tata Steel Limited has completed the merger of its wholly-owned subsidiary S&T Mining Company Limited with itself, according to a regulatory filing on Monday, December 4.
The scheme of amalgamation of S & T Mining Company Ltd ('S&T Mining') into and with Tata Steel Ltd was approved and sanctioned by National Company Law Tribunal (NCLT) Kolkata in an order dated November 10, 2023, according to the filing.
“The scheme of amalgamation has become operative and effective from December 1, 2023. In terms of the scheme of amalgamation, S&T Mining stands dissolved without being wound up, effective December 1, 2023,” the filing said.
Tata Steel is in the process of merging a number of subsidiary companies with itself. Its CEO and managing director T. V. Narendran had previously said the merger of the subsidiary companies with Tata Steel would be completed by 2023-24.
