Tata Chemicals (TCL) has received an approval for scheme of amalgamation of Homefield International (Mauritius), a wholly owned subsidiary of the company with itself under the provisions of Companies Act, 1956. The High Court of Bombay vide its order dated March 7, 2014 has sanctioned for the same.
Accordingly, in terms of the scheme, all assets and liabilities of Homefield International, under the provisions of Companies Act 1956, stands transferred to and vested in the company. As Homefield International is a wholly owned subsidiary, no shares of the company will be issued and allotted in lieu or exchange of the equity shares of Homefield International.
Tata Chemicals, part of the Tata Group, is a leading manufacturer of chemicals, fertiliser and food additives. Tata Swach is a water purifier developed by Tata Chemicals.