Transport Corporation of India announces demerger of its Express Distribution Division

On 9 October 2015

Transport Corporation of India announced that its Board of Directors approved a scheme of arrangement envisaging the demerger of its Express Distribution Division undertaking into wholly owned subsidiary, TCI Express (Formerly known as TCI Properties (Pune)), subject to approval of shareholder and other statutory approvals. The Board also announced delayering of its global holding structure by liquidation of its wholly owned subsidiary TCI Global Holding (Mauritius) and consequent capital reduction under the said scheme.

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