Titan, Tanishq (India) to merge

Titan Industries Ltd has decided to merge Tanishq (India) Ltd, the wholly-owned subsidiary of the company, with the company. Tanishq (India) (not to be confused with the jewellery brand of the same name) was created nearly 10 years ago as a separate entity through which jewellery was being invoiced. But the entity, for all practical purposes, is today inactive. “Tanishq (India) has been defunct for quite a while now and no business was carried out by it. For the last 8 years or so, all the jewellery business of the company has been embedded in Titan Industries. So the decision was to merge it with the company in order to reduce the number of legal entities and simplify the accounting process,” said Mr Bhaskar Bhat, Managing Director, Titan Industries. Tanishq (India) Ltd has filed the requisite petition with the High Court of Karnataka, Bangalore.