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Informist, Thursday, Oct. 1, 2026

 

--NCLT Mumbai approves Rujuvalika Investments' merger with parent Tata Steel

 

By Surya Tripathi

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal Thursday approved Rujuvalika Investments Ltd.'s merger with parent company Tata Steel Ltd. Rujuvalika Investments shall be dissolved without winding up, said the tribunal. Neither any objector has come to oppose the scheme of amalgamation nor has any party controverted any averments made in the merger, it said.

 

All the shares of Rujuvalika Investments held by Tata Steel either directly or through nominees shall stand cancelled without any further application, act or deed, said the scheme of merger. Further, the investment in the shares of Rujuvalika Investments, appearing in the books of accounts of Tata Steel shall, without any further act or deed, stand cancelled, it said. No new shares shall be issued nor shall payment be made in cash whatsoever by Tata Steel for cancellation of such shares of Rujuvalika Investments, it added. 

 

The merger will assist in simplifying the corporate structure of Tata Steel group and reduction of shareholding tiers, said the scheme of amalgamation. It will help in reduction in the multiplicity of legal and regulatory compliances required at present to be carried out by both the companies, it added.

 

The merger will help to reduce the number of legal entities within the Tata Steel group as a result of amalgamation, said the scheme of merger. The amalgamation will result in savings of administration, operations, compliances, and other costs associated with managing separate entities, it said. The merger is in the interest of the shareholders and all other stakeholders of the respective companies and is not prejudicial to the interests of the concerned shareholders and other stakeholders, it added.

 

Rujuvalika Investments is engaged in the business of non-banking financial activity. It was granted a certificate of registration by the Reserve Bank of India in 1998, to carry on the business of a non-banking financial institution. In 2022, the RBI recategorised Rujuvalika Investments as a systematically important non-deposit-taking middle-layer non-banking financial company. 

 

Tata Steel is engaged in the business of manufacturing steel and offers a broad range of steel products, including a portfolio of high-value-added downstream products such as hot rolled, cold rolled and coated steel, rebars, wire rods, tubes and wires. Tata Steel also has a well-established distribution network.

 

For the June quarter, Tata Steel reported a consolidated net profit of INR 23.18 billion on revenue of INR 607.94 billion. Thursday, the shares of Tata Steel Ltd. closed 3.4% lower at INR 178.00 on the National Stock Exchange.  End 

 

Edited by Deepshikha Bhardwaj

 

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