BusinessWire India
Mumbai (Maharashtra)/ New Delhi [India], August 1: Cyril Amarchand Mangaldas (CAM) advised Tata Motors Limited (Tata Motors) on a scheme of arrangement for reduction by way of cancellation of capital (‘A’ Ordinary Shares) and payment of non-cash consideration (Ordinary Shares) for such reduction of capital.
The General Corporate & Capital Markets Practice of Cyril Amarchand Mangaldas advised Tata Motors on the transaction. The transaction team was led by Anand Jayachandran, Partner; with support from Supriya Aakulu, Principal Associate; Ayushi Singh, Associate; Abhisht Patibanda, Associate; and Ipkshita Singh, Associate.
Yash Ashar, Partner & Head Capital Markets; and Nivedita Rao, Partner & Deputy Head – Corporate; provided strategic inputs on the transaction.
Other team members included Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); and Tapan Deshpande, Director – Corporate Litigation.
As part of the transaction, the Scheme provides inter alia for reduction through cancellation of ‘A’ Ordinary Shares and the issuance and allotment of the Ordinary Shares as consideration other than cash for such reduction.
The Scheme was approved by the board of directors of Tata Motors on 25th July, 2023, and is subject to regulatory and shareholder approval, including sanction by the National Law Company Tribunal, Mumbai Bench.
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