Sastasundar Ventures Limited has informed the Exchange about Update on the Reduction of Share Capital of Genu Path Labs Limited, step-down subsidiary of the Company
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Sastasundar Ventures has informed exchanges that the NCLT Kolkata Bench has approved (order dated 12 February 2026) the scheme to reduce the share capital of its step-down subsidiary Genu Path Labs Limited (GPL), a wholly owned unit of Sastasundar Healthbuddy Limited. The face value of GPL's equity shares will be cut from Rs. 10 to Re. 1 each, cancelling and extinguishing 90% of paid-up capital worth Rs. 17.77 crore. Additionally, the entire securities premium account of Rs. 19.75 crore will be written off to nil. The move is aimed at setting off accumulated losses of about Rs. 38.93 crore (as of 31 December 2024), which built up largely after Sastasundar Healthbuddy's partnership with Flipkart Health ended in October 2024. The appointed date is 1 January 2025.
This is a balance sheet cleanup at a loss-making step-down subsidiary and involves no cash outflow. Shareholding percentages of promoters and group companies remain unchanged, so there is no material impact on Sastasundar Ventures' consolidated equity. The restructuring may improve GPL's net worth and help it raise funds or pursue new business in the future.