Tata Motors Begins Notice Process For Merger With TMF Holdings And TMF Business Services

Tata Motors has sent notices to shareholders and creditors as it proceeds with a planned composite scheme involving TMF Holdings and TMF Business Services. The development follows an order passed by the Mumbai Bench of the National Company Law Tribunal (NCLT) on 2 September 2026.

In a disclosure made to the stock exchanges on 9 September, Tata Motors said the notices are being sent to its equity shareholders as well as secured and unsecured creditors, including debenture holders.

TMF Holdings And TMF Business Services To Merge With Tata Motors

Under the proposed composite scheme, TMF Holdings and TMF Business Services will be amalgamated with Tata Motors.

Both companies are wholly owned subsidiaries of the Tata Motors group. TMF Holdings is a direct subsidiary of Tata Motors, while TMF Business Services is held indirectly by the company.

The proposed structure is as follows:

• Tata Motors Limited: Amalgamated company

• TMF Holdings Limited: Amalgamating company

• TMF Business Services Limited: Amalgamating company

Tata Motors was formerly known as TML Commercial Vehicles Limited, according to the company's filing.

NCLT Dispenses With Stakeholder Meetings

The NCLT has waived the requirement for separate meetings of Tata Motors' shareholders, secured creditors and unsecured creditors in connection with the proposed scheme.

However, the tribunal has directed the company to formally notify these stakeholders about the amalgamation and give them an opportunity to submit representations if they wish.

The notice process includes:

• Equity shareholders of Tata Motors

• Secured creditors

• Unsecured creditors

• Debenture holders

So, while formal meetings will not be held, the affected stakeholders can still communicate their views on the proposed amalgamation.

Notices To Be Available On Tata Motors’ Website

Tata Motors said copies of the notices being issued to shareholders and creditors, including debenture holders, will also be made available on its website through a dedicated page for the composite scheme.

The latest disclosure marks another step in the process after the NCLT's 2 September order. It also follows an earlier communication made by the company on 29 January 2026 regarding the proposed scheme.

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