Tata SSL has merged with Tata Steel. The companies have
filed with the Registrar of Companies, Maharashtra, certified
copies of the Bombay High Court orders approving the merger.
Accordingly, TSSL stands dissolved without winding up,
effective 22 April 2003.
per the scheme, the shareholders of TSSL will get one
ordinary share of Tata Steel for every five equity shares
of TSSL held by them. No fractional certificates will
be issued in respect of the fractional entitlements.
the company will consolidate all the fractional entitlements
and sell the equity shares issued in lieu thereof in the
market at the best available price, and the sale proceeds
will be distributed to the shareholders of TSSL in proportion
to their fractional entitlements.
shareholders of TSSL holding shares in physical form will
be issued share certificates and those holding in electronic
form will get shares in electronic form.
ordinary shares of Tata Steel issued and allotted to the
shareholders of TSSL shall rank parri passu in all respects
with the existing ordinary shares of Tata Steel and will
be eligible for the dividend for the year ended 31 March