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| Exchange Disseminated Time 18/01/2016 16:59:31 | Tata Motors Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 18, 2016 have considered and approved:-
1. the appointment of Mr. Guenter Butschek as the Chief Executive Officer and Managing Director of the Company for a period of 5 years and he is expected to join by February 15, 2016. Mr. Butshek is not related to any of the Directors of the Company
2. the buy-back of Unsecured Non-Convertible Debentures (NCDs), as part of its Debt restructuring programme to ensure balanced maturity profile and / or better terms that would include lower cost of debt as follows:-
(i) NCDs aggregating Rs. 200 crores (2,000 NCDs of face value of Rs. 10 lakhs each) due to mature on November 30, 2018; and
(ii) NCDs aggregating Rs. 250 crores (2,500 NCDs of face value of Rs. 10 lakhs each) due to mature on May 28, 2019. |
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