Tata Metaliks continues to operate as subsidiary of Tata Steel
Tata Steel announced that its Committee of Directors approved the proposal of the Company to file appropriate application before the Hon'ble High Court of Bombay seeking recall of the order dated 21 August 2015 sanctioning the scheme of amalgamation between the Tata Metaliks and Tata Metaliks DI Pipes with the Company (scheme).The scheme is currently not effective since the petition filed by Tata Metaliks with Hon'ble High Court of Calcutta for approval of the scheme is pending for disposal. Accordingly, Tata Metaliks has been advised to consider withdrawing the scheme with a leave to re-file a fresh scheme of merger of Tata Metaliks DI Pipes with Tata Metaliks.
With this decision, Tata Metaliks will continue to operate as a subsidiary company of Tata Steel.
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