ITC’s hotel business demerger is set to take effect on January 1, 2025, creating a new wholly-owned subsidiary, ITC Hotels Ltd. The demerger was approved by shareholders and regulators.
The multi-conglomerate has already received regulatory approvals, including from the National Company Law Tribunal (NCLT) on October 4, sanctioning the scheme between ITC and ITC Hotels.
“ITC Ltd and ITC Hotels Ltd have mutually acknowledged that all the conditions specified in Clause 28 of the Scheme have been fulfilled and satisfied, including filing of the aforesaid order with the…
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