Tata Power has signed the implementation agreement with Tata Advanced Systems Ltd (TASL), to sell its Strategic Engineering Division (SED) involved in defense business.

The SED is in the business of indigenous design, development, production, integration, supply and life cycle support of mission critical defense systems. Both companies will now start the process of seeking SEBl’s approval, followed by submission of draft Scheme to National Company Law Tribunal (NCLT).

Further, in a BSE filing the company stated, “In connection with sale of our SED to TASL. The Company has executed Implementation Agreement with TASL on April 25, 2018.

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