Tata Motors Passenger Vehicles Ltd.

Tata Motors has received approval of the National Company Law Tribunal (NCLT) Mumbai bench to hive off its passenger vehicles business unit into a separate entity. Earlier in March this year, the shareholders of the company at an extraordinary general meeting convened as per an order of the NCLT had voted and approved the transfer of the passenger vehicles business unit to TML Business Analytics Services as a going concern on a slump sale basis for a lump sum consideration.

This shall help in providing differentiated focus for the PV and commercial vehicle businesses separately and help each of them realise their potential while also unlocking business value and enhanced management focus and operational flexibility in each of the businesses.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.