REG - Tata Steel Limited - Disclosure-Regulation 30- SEBI Listing Regulations

TATA SteelAnnouncement

28/09/2023 17:15

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RNS Number : 0624O  Tata Steel Limited  28 September 2023

 
         September 28, 2023

 

London Stock Exchange

London

 

Dear Sir, Madam,

 

Re: Intimation of Adjudication Order from Registrar of Companies, Cuttack
received by Neelachal Ispat Nigam Limited, indirect subsidiary company

 

This has reference to the aforementioned subject.

 

Tata Steel Long Products Limited ('TSLP'), a listed subsidiary of Tata Steel
Limited, had completed the acquisition of Neelachal Ispat Nigam Limited
('NINL') on July 4, 2022, under the process run by Department of Disinvestment
& Public Asset Management, Government of India. Consequent to the
acquisition, NINL became an indirect unlisted subsidiary of Tata Steel Limited
('Company') and a direct subsidiary of TSLP.

 

Post the acquisition, in April 2023, NINL had voluntarily filed 22 compounding
applications before the Registrar of Companies, Cuttack ('ROC') under Section
441 of the Companies Act, 2013, for compounding the defaults made by NINL
under the provisions of the Companies Act, 2013, prior to the acquisition of
NINL by TSLP. Of the 22 applications filed, 19 applications have been
adjudicated by the ROC on September 22, 2023, and 3 applications are pending
for compounding before the Regional Director, Eastern Region, Ministry of
Corporate Affairs.

 

NINL has on September 27, 2023, received orders dated September 26, 2023, from
the ROC under Section 454 of the Companies Act, 2013, imposing a penalty of
approximately ₹55.41 lakh on NINL.

 

TSLP being a listed entity and the holding company of NINL has made necessary
disclosures to the stock exchanges today in compliance with Regulation 30 read
with Part A of Schedule III of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended.

 

The disclosure made by TSLP is enclosed herewith.

http://www.rns-pdf.londonstockexchange.com/rns/0624O_1-2023-9-28.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0624O_1-2023-9-28.pdf)

 

This disclosure is made by Tata Steel Limited in compliance with Regulation 30
read with Part A of Schedule III of Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015.

 

This is for your information and records.

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