Tata Consultancy Services Ltd on Tuesday said it has approved a scheme of amalgamation of its three unlisted wholly-owned subsidiaries with itself.
The three subsidiaries of TCS whose merger was approved by the board of directors are Mumbai-based Airline Financial Support Services (India) Limited, Chennai-based Aviation Software development Consultancy India Ltd and TCS Business Transformation Solutions Ltd, Bangalore, the company informed the Bombay Stock Exchange.
Upon its approval by the high courts of Mumbai, Chennai and Karnataka, the scheme of amalgamation will be effective retrospectively from April 1, 2005, it said.