CURRENT AFFAIRS

Detailed explanation-1: -On April 4, 2019, CCI approved the acquisition of up to 66.15% of the equity share capital of Mindtree Limited (’Mindtree’) by Larsen and Toubro Limited (’L&T’).

Detailed explanation-2: -The merger of Larsen & Toubro Infotech (LTI) and Mindtree received approval from National Company Law Tribunal (NCLT) and subsequently both the companies would be operating as a merged entity from November 14, 2022, said A. M. Naik, Group Chairman, L&T and Chairman of LTIMindtree.

Detailed explanation-3: -LTI mindtree merger: LTI-Mindtree merger comes into effect, becomes 5th largest IT company by m-cap - The Economic Times.

Detailed explanation-4: -IT services firms L&T Infotech and Mindtree received approval for merger from NCLT. Both Mumbai and Bengaluru Benches of the National Company Law Tribunal (NCLT) have approved, via two separate orders, the scheme of amalgamation and arrangement between the two companies.

Detailed explanation-5: -The new entity, LTI Mindtree, will begin trading from November 24. Mindtree shareholders will get 73 LTI shares for every 100 shares they hold post merger. LTI and Mindtree merger was announced in May 2022. The parent company, L&T, will hold 68.73% of the merged entity - LTIMindtree.