The boards of Tata Global Beverages (TGBL) and Tata Chemicals (TCL), have approved the demerger of the consumer products business of TCL and merging it with TGBL through a National Company Law Tribunal (NCLT)-approved scheme of arrangement to create one consumer products company, which will have a combined turnover and EBITDA of ₹9,099 crore and ₹1,154 crore, respectively.