Bombay HC approves TCS, CMC amalgamation

TCS has fixed October 01, 2015 as the Record Date to determine the names of the public shareholders of CMC (i.e. shareholders other than TCS) who would be entitled to receive the equity shares of TCS in lieu of equity shares held in CMC.

Tata Consultancy Services Ltd has announced that the Hon’ble High Court of judicature at Bombay has sanctioned the Scheme of Amalgamation between CMC Limited (CMC or Transferor Company) and Tata Consultancy Services Limited (TCS or Transferee Company) on August 14, 2015 with respect to petition filed by TCS.

Further, the Hon'ble High Court of judicature at Hyderabad for the states of Telangana and Andhra Pradesh had sanctioned the Scheme on July 20, 2015 with respect to petition filed by CMC.

Pursuant to Clause 3.1.9 of the Scheme, TCS has fixed October 01, 2015 as the Record Date to determine the names of the public shareholders of CMC (i.e. shareholders other than TCS) who would be entitled to receive the equity shares of TCS in lieu of equity shares held in CMC.

Pursuant to clause 11.2 of the Scheme, 79 (seventy nine) equity shares of Rs. 1 each of TCS will be issued and allotted as fully paid up equity shares for every 100 (one hundred) equity shares of Rs. 10 each held by the public shareholders of CMC, whose names appear in the Register of Members of CMC and whose names appear as the beneficial owners of the equity shares of CMC in the records of the depositories (or to such of their respective heirs, executors, administrators or other legal representatives or other successors in the title as may be recognised by the Board of Directors of TCS) on the Record Date.