The Delhi-bench of National Company Law Tribunal (NCLT) has approved the merger of financially-stressed Tata Teleservices with Bharti Airtel.
With the approval the merger gets a final shape over one year after it was announced by the respective companies in October 2017.
“The NCLT has sanctioned the Composite Scheme of Arrangement between Tata Teleservices Limited, Bharti Airtel Limited and Bharti Hexacom Limited and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013,” Bharti Airtel said in a regulatory filing at the BSE. Bharti Hexacom is a subsidiary of the telecom major,” Bharti Airtel said.