The National Company Law Tribunal (NCLT), Mumbai Bench, has sanctioned the Scheme of Arrangement between Tata Chemicals Ltd. (TCL) and Yara Fertilisers lndia Private Ltd. for transfer of TCL’s urea and customised fertilisers business to Yara by way of a slump sale, TCL said in a statement.
The urea and customised fertilisers are manufactured by Tata Chemicals at its plants located in Babrala, Uttar Pradesh.
“The order was delivered by NCLT on December 7, 2017, and that the certified copy of the same is awaited,” TCL said in a filing with the stock exchanges.