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Tata Sons gets shareholder nod to change status to private limited company

LiveMint logoLiveMint 21-09-2017 Livemint

New Delhi: Tata Sons on Thursday got investors’ nod to change legal status to private limited from public one.

The company had on last Friday sought approval from its shareholders to amend its memorandum of association and articles of association for changing its legal status to private limited from public one.

It had also sought to change the name of the company from Tata Sons Ltd to Tata Sons Pvt. Ltd, it added.

The change in Tata Sons’ corporate structure will require to be cleared by a special resolution, needing at least 75% votes. Besides shareholders’ approval, the change in its status will also need an approval from the National Company Law Tribunal (NCLT

The Mistry family had objected to Tata Sons’s attempt to convert itself into a private limited company.

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