The Competition Commission of India (CCI) has cleared the proposal of India’s giant business group Tata Motors Finance Limited merger into the Tata Capital Limited marking a significant consolidation into Tata group financial services. The merger will be carried out through a scheme of arrangement to be submitted to the National Company Law Tribunal.
TCL will issue its equity shares to TMFL shareholders. This transaction will ultimately lead to Tata Motors owning a 4.7% stake in the combined entity, further solidifying their position within the industry.
TCL, a subsidiary of Tata Sons, operates as a non-banking financial company engaged in lending, leasing, factoring, and financing, while TMFL (Tata motors finance limited) focuses on providing loans for purchasing new and pre-owned vehicles, particularly those manufactured by Tata Motors and its group companies.
The Union Cabinet has approved several key proposals with a total outlay exceeding ₹60,000 crore,…
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the development…
Vallabhbhai Patel, known as the "Iron Man of India," played a vital role in the…
The union cabinet chaired by the Honorable Prime Minister Shri Narendra Modi has approved the…
India’s exports to China contracted by 22.44% to $1 billion in August, while overall exports…
The Union Cabinet chaired by Prime Minister Narendra Modi approved a new moon mission ‘Chandrayaan-4’, to…