IANS | 29 Dec, 2023
The composite scheme of arrangement amongst Tata Consumer Products
Ltd (TCPL), Tata Coffee Ltd (TCL), and TCPL Beverages & Foods Ltd
(TBFL) and their respective shareholders and creditors, pursuant to
Section 230-232 and other applicable provisions of the Companies Act,
2013 (Scheme) will become effective from January 1.
With the
scheme of arrangement becoming effective on January 1, 2024, Tata Coffee
will get dissolved without winding-up, and accordingly office of all
directors and key managerial personnel of the company shall stand
vacated on that date, without further course of action.
The Board
of Directors of TCL, the Scheme Implementation Committee of the Board of
TCPL, and the Board of Directors of TBFL have acknowledged, that the
conditions under Clause 29 of the Scheme, including filing of the
certified copies of the order with the Registrar of Companies in form
INC-28, are duly fulfilled.
Accordingly, in terms of the scheme,
the appointed date and the effective date of the scheme are January 1,
2024, Tata Coffee said in a filing.
