Intimation under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015- Closure of Wholly Owned Subsidiary.
Awaiting price reaction for this filing.
Birla Cotsyn (India) Ltd has closed its wholly owned subsidiary, Birla Cotsyn (India) Limited FZE, located in the Hamriyah Free Zone, Sharjah, UAE, effective from 29th September 2025. The subsidiary had no business operations and did not acquire any assets during the period the parent company was undergoing Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation proceedings under the Insolvency and Bankruptcy Code, 2016. Following the NCLT-sanctioned Scheme of Compromise and Arrangements, no records or documents pertaining to the subsidiary were available with either the Liquidator or handed over to the acquirer. No consideration was received from the closure, and the subsidiary contributed zero turnover, revenue, or net worth in the last financial year.
This is a housekeeping closure of a dormant, non-contributing foreign subsidiary and is unlikely to have any material financial impact on the company or its shareholders. The stock price should not be materially affected since the entity had no operations or assets of value.