New Delhi: Tata Motors Limited has announced that its demerger into separate commercial vehicle and passenger vehicle businesses will take effect on October 1. The move comes after receiving approvals from its board, regulators, and the National Company Law Tribunal. As part of the demerger, shareholders will receive one share in the new commercial vehicle company for each fully paid Tata Motors share held on the record date, the company said in a filing to the exchanges.

The record date is pending announcement and will be revealed after the completion of statutory filings. Upon confirmation of the record date, investors will receive one share in the CV and PV companies for each Tata Motors share they own. Shares will be automatically credited to investors’ demat accounts, with voting rights remaining proportionate across both entities. Both companies will set their own dividend policies moving forward.

As part of the demerger, Tata Motors will split into two separate listed entities. The commercial vehicle business arm housed in TML Commercial Vehicles Ltd. (TMLCV) is expected to be renamed to Tata Motors Limited once the demerger is complete.

Tata Motors will rename its existing listed company to Tata Motors Passenger Vehicles Ltd., retaining its passenger vehicle and electric vehicle businesses, as well as investments like Jaguar Land Rover.

Girish Wagh, who currently heads Tata Motors’ CV operations, will lead the new commercial vehicle company, while Shailesh Chandra, the current head of the passenger vehicle and electric vehicle divisions, will spearhead the PV-focused company.

Tata Motors announced that the demerger aims to unlock value and enhance corporate efficiency, highlighting the distinct market dynamics, opportunities, and capital requirements of its CV and PV businesses.

Tata Motors first announced plans for a demerger in 2024. The appointed date for accounting and valuation purposes is July 1, 2025, while October 1 marks the legal effective date.

Sir Keir Starmer was repeatedly pressed on whether VAT could be increased in the forthcoming Budget.

The prime minister was asked at least five times by the BBC’s Laura Kuenssberg if he would rule out raising VAT, with Chancellor Rachel Reeves expected to have to put up taxes or cut spending in November to meet her own rules on government borrowing.

Speaking ahead of Labour’s party conference in Liverpool, the PM said “the manifesto stands” and that more would be revealed in the Budget.

The leader of a Boston food bank says the need for their service has remained “persistently high” and is appealing for help.

Father David Stevenson, the rector of St Botolph’s Church, also known as Boston Stump, where the food bank is based, said the facility was “a lifeline for people”.

The appeal comes at a time when extra costs associated with heating homes can lead to an increase in people needing help, he said.

Boston Food Bank is part of The Trussell Trust, which runs a network across the UK. The food bank said it had seen record levels of need in the past year.

“People are struggling to afford both food and heating”, Fr Stevenson said.

“That’s a very common experience in Boston, as in lots of other places.”

The food bank said it sees peaks and troughs in numbers throughout the year, but added there had been an overall increase in people needing support in 2025.

“Last week, we reached our 3,000th person for this calendar year…. which included nearly 1,000 children living in poverty,” Fr Stevenson said.

As part of the food bank’s harvest appeal, it asked for donations of non perishable items and things that can be easily made into a meal such as dry pasta, bags of rice, and tinned meals.

Alina used the food bank last year following a referral from Centrepoint Outreach in Boston.

She was new to the area and received help from the facility until financial and living arrangements were put in place.

Alina now volunteers at the food bank once a week.

“I wouldn’t want anyone to feel like I did and be anxious about not being able to eat,” she said.

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