"The board of directors of Tata Motors Ltd at its meeting ...Have considered and approved a scheme of merger and arrangement...Subject to the approvals as required, between the company and TML Drivelines Ltd, a wholly owned subsidiary of the company primarily engaged in the business of manufacturing axles, gearboxes and other part of the company's commercial vehicles," it said in a BSE filing.
It said the scheme is subject to necessary statutory and regulatory approvals including the approval of the National Company Law Tribunal.
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