Tata Motors has completed the transfer of its defense business with effect from 1 April 2021 to Tata Advanced Systems (TASL) for an upfront consideration of Rs 227.7 crore.
The transfer has been completed through a slump sale as per Scheme of Arrangement approved by National Company Law Tribunal at Mumbai and Hyderabad. Over the next several months, Tata Motors and TASL will work closely to ensure smooth transition of the Defense business.
TASL, a wholly owned subsidiary of Tata Sons Pvt., is focused on providing integrated solutions for aerospace, defense and homeland security. The sale of Defense business to TASL is in line with Tata Group s strategy of consolidating the defense businesses under a single entity to bring scale and synergy.
With effect from 01 April 2021Tata Motors has completed the transfer of its Defense business with effect from 1 April 2021 to Tata Advanced Systems (TASL) for an upfront consideration of Rs 227.7 crore (which is subject to closing balance
sheet adjustments). The transfer has been completed through a slump sale as per Scheme of Arrangement approved by National Company Law Tribunal at Mumbai and Hyderabad.
TML has been in the defense sector for several decades, and currently has a wide portfolio
of logistics, combat support and armoured vehicles for the defense, paramilitary and state
police forces. In recent years, TML has also focused on developing state-of-art armoured
Max Healthcare Institute rose 1.93% to Rs 205.85 after the company said it acquired 42.8% equity stake in Saket City Hospitals (SCHL) from Kayak Investments Holding.Before the transaction, Max Healthcare Institute held 57.2% and Kayak Investments Holding held the remaining 42.8% stake in Saket City Hospitals.
Kayak held 51.94% stake in Max Healthcare as on 31 December 2020.
Max Healthcare Institute purchased 1.26 crore equity shares, representing 42.8% of the equity share capital of SCHL from Kayak. Following the transaction, SCHL has become a wholly-owned subsidiary of the company with effect from 15 March 2021. The consideration for the purchase of purchased shares is the INR equivalent to $64,246,702.
SCHL is engaged in the business of providing healthcare services in India, including sale of medicines in the course of delivery of healthcare services by way of Business to Business (B2B), construction services, supply, erecting and installation of equipment and other related s
West Bengal Chief Minister Mamata Banerjee on Sunday said she is contesting from Nandigram to work along with members of Shaheed families against anti-Bengal forces , remembering the innocent villagers were killed in firing at Nandigram on March 14 in 2007. On this day, in 2007, innocent villagers were killed in firing at Nandigram. Many bodies could not be found. It was a dark chapter in the history of the State. Heartfelt tribute to all those who lost their lives, she tweeted. In memory of those who lost their lives in Nandigram, we observe March 14 as Krishak Dibas every year and give away the Krishak Ratna awards. Farmers are our pride and our government is working for their all-round development, she said in another tweet.
BJP leader Suvendu Adhikari, who is pitted against his mentor turned adversary, Trinamool Congress supremo Mamata Banerjee, in the Nandigram assembly seat, on Sunday locked horns with his former party seeking to appropriate the legacy of Nandigram movement just days ahead of the assembly polls. The TMC observes March 14 as Nandigram Divas to pay respect to the 14 people killed in police firing on this day during an anti-land acquisition stir in 2007. The TMC, after coming to power, has also been observing the day as Krishak Divas. Adhikari, who was considered the face of the movement, lashed out at the ruling TMC, saying that opportunists who have given promotion to the officers responsible for the 2007 police firing have no right to seek votes from the people of the area as they have insulted the sacrifices made by the agitators.