Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 - Intimation of Strike-off of wholly owned subsidiary of the Company.
Awaiting price reaction for this filing.
White Organic Retail Ltd has struck off its wholly owned subsidiary, White Organic Snacks Limited, from the register of companies following approval by the Registrar of Companies under Section 248 of the Companies Act, 2013. The subsidiary had no operations for the past few months and continuing it was found unfeasible. The subsidiary contributed Nil revenue, turnover, and net worth to the parent company during the last financial year. Consequently, White Organic Snacks Limited has been dissolved and ceased to be a subsidiary. No consideration was received since this was a strike-off rather than a sale.
This is a housekeeping action with no material financial impact on shareholders, as the dissolved subsidiary was non-operational and contributed nothing to revenues or net worth. The event is unlikely to have any meaningful effect on the stock price.