NCLT Mumbai Bench issues order for a composite scheme involving the demerger of Solutions Infini's non-licensed business into Novamesh and its subsequent amalgamation into Tata Communications Collaboration Services.
Tribunal dispenses with shareholder meetings for all three companies due to 100% consent but directs convening of unsecured creditor meetings for each entity.
The scheme, with an appointed date of 01 April 2025, aims to achieve operational synergies, reduce administrative costs, and streamline the corporate structure of these Tata Communications subsidiaries.
Unsecured creditors totaling Rs. 972.59 crore across the three companies will vote on the scheme, with meetings to be chaired by a appointed company secretary.