Board OKs Rs 2.10 Cr HDFC loan; keeps USA subsidiary alive
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Board met on 10 Aug 2026 and approved two items. First, a credit facility of Rs. 2.10 crore from HDFC Bank, with the full SEBI disclosure to follow once the loan agreement is signed. Second, withdrawal of the earlier proposal to strike off the wholly owned US subsidiary Dev Labtech Venture Inc. (USA). Management cited present and future business needs, strategic expansion plans, and operational considerations as reasons to retain the overseas arm. The subsidiary will continue as a wholly owned entity.
Small debt raise plus retention of US subsidiary points to continued expansion; management states no material adverse impact on financials.