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Tata Sons looks to shed its ‘public ltd’ tag for ‘pvt ltd’

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7 years ago

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Tata Sons looks to shed its ‘public ltd’ tag for ‘pvt ltd’

MUMBAI: In a move which would intensify the battle between Tata Sons and its former chairman Cyrus Mistry, the holding company of the Tata Group has initiated a proposal to turn itself into a ‘private limited company’ from a ‘deemed public company’.

The most significant implication of this step will be that it places restrictions on Tata Sons’ shareholders from selling their stake to external investors. The Mistry family, which holds an 18.4% stake in Tata Sons, has objected to the proposal and may move court.

Tata Sons has called a shareholders’ meeting on September 21, seeking approval to amend its Articles of Association to become a private limited company and alter its Memorandum of Association to change its name from Tata Sons Ltd to Tata Sons Pvt Ltd. The change in Tata Sons’ legal structure requires 75% of the company’s shareholders to approve these special resolutions. The proposals will also have to be cleared by the National Company Law Tribunal. The Mistrys intend to vote against the resolutions.

“The true effect of converting the status of Tata Sons into a private company is to introduce/reintroduce restrictions on transferability of shares which otherwise today are void and unenforceable under law and norms applicable to public companies,” Cyrus Investments said in the six-page letter. Besides Mistrys’ 18.4%, seven Tata charitable trusts hold 41.73% in Tata Sons, nine Tata Group companies have 9.81% and Tata family members and others own 30.06%.
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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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