Kolkata, March 5 (IANS) Titan Industries Limited has decided to merge Tanishq (India), a wholly owned subsidiary, with itself to reduce entity costs and eliminate legal compliance requirements, the company announced Friday.

"Tanishq (India) Limited is a wholly owned subsidiary company of Titan Industries Limited. Since the said subsidiary is a non-material unlisted subsidiary and does not have any operations, the Board of Directors of Titan Industries Limited decided to merge it with itself pursuant to the applicable provisions of the Companies Act, 1956," a company release said.

The proposed merger would reduce the number of legal entities in the group and thereby serve to reduce entity costs as well as eliminate legal and regulatory compliance requirements related to the said subsidiary, it said, adding it has no impact whatsoever on the 'Tanishq' brand operated by the jewellery business division of Titan Industries Limited.