Tata Chemicals Ltd said it has received the National Company Law Tribunal (NCLT) nod for merging its Mauritius subsidiary subject to further approvals. 

 

In a notification, the company informed that the NCLT sanctioned the Scheme of Merger by Absorption, under Section 234 read with Section 230 to Section 232 of the Companies Act, 2013, of Bio Energy Venture – 1 (Mauritius) Pvt. Ltd.

 

Tata Chemicals holds a 100% stake in Bio Energy.

 

The order is subject to the approval of the appropriate regulatory authority at Mauritius.

 

Notably, the certified copy of the order from NCLT, Mumbai Bench is awaited. The scheme will be made effective upon the filing of the certified copy of the order with the Registrar of Companies, Mumbai, Maharashtra.