Tata Motors plans to demerge business into two separate companies
.webp)
Indian automaker Tata Motors plans to demerge into two separate listed companies to refine focus on the passenger and electric vehicle segments, it said in an exchange filing on Monday.
The commercial vehicles business and its related investments will be spun in one entity and the passenger vehicles (PV) businesses, including electric vehicles (EV), Jaguar Land Rover and related investments, in another entity.
Shareholders of Tata Motors will continue to have an identical shareholding in both the listed entities, the company said.
The demerger will help in better growth prospects for employees and enhanced value for shareholders, Chairman N Chandrasekaran said in a statement.
The scheme of arrangement for the demerger shall be placed before the board in the coming months and will be subject to all necessary shareholder, creditor and regulatory approvals, which could take a further 12-15 months to complete, the company said.
The demerger will have no adverse impact on employees, customers, and business partners, it added.
Other Latest News
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
The Andhra Pradesh government has repealed the two-child norm for candidates contesting local body elections. The state assembly on Monday passed the AP Panchayat Raj (Amendment) Bill, 2024, and the AP Municipal Laws (Amendment) Bill, 2024, effectively removing the decades-old restriction, reported NDTV.
The two-child policy was introduced in May 1994, mandating that candidates seeking election to Gram Panchayats, Mandal Praja Parishads, and Zilla Parishads should not have more than two children.
.webp)
Police have registered a case against four unidentified persons on charges of attempt to murder after NCP (SP) leader and former Maharashtra home minister Anil Deshmukh was seriously injured in stone pelting at his car in Nagpur, officials said on Tuesday.
The incident took place at around 8 pm on Monday and Deshmukh was later admitted to a private hospital in Nagpur.
.webp)
Amid alarmingly high pollution levels in Delhi, Environment Minister Gopal Rai on Tuesday urged the Centre to convene an emergency meeting to tackle the issue and said it is the moral responsibility of Prime Minister Narendra Modi to intervene in the matter.
Addressing a press conference, Rai said the Centre has not acted on the Delhi government's repeated requests to allow artificial rain in the national capital and he will again write to Union Environment Minister Bhupender Yadav.
.webp)
The Enforcement Directorate (ED) has uncovered "direct links" between e-commerce giants Amazon and Flipkart and their preferred sellers, The Economic Times reported on Tuesday. The central probe agency is investigating alleged violations of foreign investment laws by the companies.
According to the report, the ED quizzed the “top” five sellers of both firms and found that many of these sellers are either former employees or relatives of former associates of Amazon and Flipkart.
.webp)
.webp)
.webp)
.webp)
.webp)
