APPROVAL FOR CLOSURE OF INDUSIND BANK ACCOUNT
Awaiting price reaction for this filing.
The Board of Directors of Redmax Footwears Limited (formerly Viaan Industries Ltd) met on May 1, 2026, and approved the closure of an inactive IndusInd Bank account. The account is a legacy account that is not under the control of the present management following acquisition under the Insolvency and Bankruptcy Code, 2016. The company has also disclosed that its name was changed from Viaan Industries Limited to Redmax Footwear Limited via MCA letter dated May 5, 2025, and the company is in the process of updating the name with the stock exchange.
This is a routine administrative filing indicating cleanup of legacy accounts post-acquisition under IBC. The closure of an inactive bank account has no direct impact on operations. The name change reflects the company's transition to Redmax Footwear Limited and may signal a change in business focus.