Allcargo Logistics Limited has informed the Exchange about Sale or disposal
ALLCARGO · price
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Awaiting price reaction for this filing.
Allcargo Logistics has informed the exchanges that three of its step-down wholly owned overseas subsidiaries — OTI Cargo Inc., Econoline Storage Corp., and ECI Customs Brokerage Inc. — have been voluntarily dissolved effective July 14, 2025. All three entities had nil revenue and nil net worth as of March 31, 2025, meaning they contributed nothing to the company's financials. No consideration was received since this was a dissolution (winding up) rather than a sale. The filing is made under SEBI Listing Regulations to maintain proper disclosure compliance.
This is a routine housekeeping exercise to shut down dormant, non-operating overseas subsidiaries. Since the entities had no revenue or net worth, the impact on shareholders and the stock price is expected to be negligible.