Tata Steel seeks shareholder nod for transactions

MUMBAI - Tata Steel (NSE:TISC) Limited has issued a notice for a postal ballot to seek approval from its members on a series of related party transactions, the company disclosed in a statement dated April 8, 2025. The notice, which encompasses 20 ordinary resolutions, was sent electronically to shareholders registered as of April 4, 2025.

The resolutions involve material transactions with various entities within the Tata group, including Tata Capital Limited, Neelachal Ispat Nigam Limited, and Tata Motors (NYSE:TTM) Limited, among others. The transactions range from operational to financial dealings, and also include one-time material transactions.

In alignment with the Indian Ministry of Corporate Affairs’ circulars and the Securities and Exchange Board of India (SEBI) regulations, the voting process will be conducted entirely through e-voting, facilitated by National Securities Depository Limited (NSDL). The e-voting period begins on Wednesday, April 16, 2025, and will conclude on Thursday, May 15, 2025.

Shareholders’ voting rights are determined by their shareholding in the paid-up equity share capital of Tata Steel as of the cut-off date. In an effort to streamline the process and adhere to green initiatives, the company is not dispatching physical copies of the ballot notice. Instead, shareholders are encouraged to register their email addresses with the company’s Registrar and Transfer Agent, MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), to receive the notice and participate in the e-voting.

The company has provided a detailed procedure for the one-time registration of email addresses, urging shareholders to ensure their email IDs are accurate and updated. The notice is also available on Tata Steel’s official website and the NSDL e-voting platform.

This move comes as part of Tata Steel’s compliance with the regulatory requirements for related party transactions and corporate governance. Shareholders are advised to review the notice and cast their votes electronically within the stipulated timeframe.

The information in this article is based on a press release statement from Tata Steel Limited.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.