Tata Teleservices Maharashtra Ltd has informed BSE that the Board of Directors of the Company has approved hiving off of Passive Tower Infrastructure Undertaking (”Undertaking”) to a Wholly Owned Subsidiary of the Company to be formed for that purpose.

The proposed slump sale of Passive Tower Undertaking is subject to (a) approval of the shareholders by postal ballot (b) all applicable laws (c) relevant provisions of the Memorandum and Articles of Association of the Company and (d) receipt of necessary approvals, consents, permissions and / or sanctions.