Tata Communications has received approval for the proposal to enter into a business transfer agreement (‘Agreement’) for the hive-off of the Company's identified new edged digital services business (‘identified business undertaking’) to its wholly owned subsidiary, Novamesh as a going concern on ‘slump sale’ basis.
The transfer of the identified business undertaking to Novamesh is subject to the satisfaction of conditions precedent as stipulated in the Agreement and receipt of such permissions and consents, as may be required. The Board of Directors of the company at its meeting held on March 21, 2024 approved the same.
Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.
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