Birla Tyres Ltd Company Summary

Birla Tyres Ltd Summary

Birla Tyres Limited was incorporated as a Public Limited Company on 22nd November, 2018. The Company markets its automobile tyres under the brand name Birla Tyres and is engaged in manufacturing and trading of tyres.The Board of Kesoram Industries Limited (the Demerged Entity), to reorganize its operating Businesses has proposed a spin off of the Tyre Business through the demerger route into a new Company, Birla Tyres Limited (the Resultant Entity) to commence business effective from 1st January, 2019. The Scheme of Arrangement was filed before the National Company Law Tribunal (NCLT), Kolkata bench for demerger, where a Tyres Division of Kesoram Industries Limited was transferred to Company (Birla Tyres Limited) vide NCLT Order dated 8th November 2019. The Certified Copy of the Order was filed by Company with RoC, on 4th December 2019, being the Effective date. Consequently, in terms of Scheme of Arrangement, the Tyre Business was transferred and vested from Kesoram Industries Limited on Effective date with the appointed date, being 1st January, 2019. Further with receipt of in-principle and trading approvals of Stock Exchanges the shares of Birla Tyres Limited got listed on BSE and NSE with effect from 10th February, 2020.