Tata Steel announced on December 1 that the merger of S and T Mining Company Ltd. has been completed. The Scheme of Amalgamation of S and T Mining Company Ltd in Tata Steel Ltd has been approved and approved by the Kolkata Vide National Company Tribunal (NCLT) order dated 10.11.2023.
The plan of merger is effective and effective as of today (December 1, 2023). According to the Merger Plan, SandT Mining will be liquidated and will not be liquidated on December 1, 2023. he said.
The merger plan approved by the NCLT on November 10, 2023, now in force, aligns S and T Mining with Tata Steel. This merger signifies Tata Steel's commitment to align its subsidiaries into a consolidated structure.
This important initiative will not only strengthen Tata Steel's organizational integration but also reinforce its strategic vision of an integrated and strengthened framework for greater efficiency and unified growth.
In 2022, Tata group moved the amalgamation of seven metal companies of the group into Tata Steel. Seven metal companies of Tata group that will be merged with Tata Steel are Tata Steel Long Products Limited (TSLP), The Tinplate Company of India Limited (TCIL), Tata Metaliks Limited (TML), TRF Limited, The Indian Steel & Wire Products Limited (ISWPL), Tata Steel Mining Limited (TSML) and S & T Mining Company Limited.
Tata Steel is in the process of consolidating several subsidiaries. CEO and MD TV Narendran had earlier said that the merger of Tata Steel and its subsidiaries is expected to be completed by 2023-24.
