TVS Holdings Subsidiary Approves Composite Scheme of Arrangement

TVS Holdings Ltd announced that its subsidiary, TVS Motor Company Limited, has approved a composite scheme of arrangement. This scheme involves the amalgamation of TVS Motor Services Limited (Transferor Company) with TVS Motor Company Limited (Transferee Company) and the demerger of a specified undertaking from TVS Motor Company Limited into Harita ARC Limited (Resulting Company). Harita ARC Limited will issue shares to TVS Motor Company Limited's shareholders proportionally. The approval also includes the acquisition of the entire stake in Harita ARC Limited by TVS Motor Company Limited. The scheme is subject to various statutory, regulatory, and customary approvals, including those from stock exchanges, SEBI, and the National Company Law Tribunal.