TPL Plastech Backs In-Principle Merger With Holding Company Time Technoplast

Board approved in principle the merger of TPL Plastech with 74.86%-parent Time Technoplast, subject to valuation, fairness opinion, scheme and regulatory approvals; swap ratio remains undecided. CFO Pawan Agarwal will resign September 30, with long-serving finance executive Sunil Vyas appointed effective October 1.