New Delhi, Dec 28 (IANS): The composite scheme of arrangement amongst Tata Consumer Products Ltd (TCPL), Tata Coffee Ltd (TCL), and TCPL Beverages & Foods Ltd (TBFL) and their respective shareholders and creditors, pursuant to Section 230-232 and other applicable provisions of the Companies Act, 2013 (Scheme) will become effective from January 1.

With the scheme of arrangement becoming effective on January 1, 2024, Tata Coffee will get dissolved without winding-up, and accordingly office of all directors and key managerial personnel of the company shall stand vacated on that date, without further course of action.

The Board of Directors of TCL, the Scheme Implementation Committee of the Board of TCPL, and the Board of Directors of TBFL have acknowledged, that the conditions under Clause 29 of the Scheme, including filing of the certified copies of the order with the Registrar of Companies in form INC-28, are duly fulfilled.

Accordingly, in terms of the scheme, the appointed date and the effective date of the scheme are January 1, 2024, Tata Coffee said in a filing.