Incorporation of Wholly Owned Subsidiary "Jyoti Social Welfare Foundation" under Section 8 of the Companies Act, 2013.
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Jyoti Resins & Adhesives has incorporated a wholly owned subsidiary named 'Jyoti Social Welfare Foundation' under Section 8 of the Companies Act, 2013, making it a not-for-profit entity. The foundation has an authorized and paid-up capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each, fully subscribed by Jyoti Resins in cash. The new entity will focus on CSR-related activities such as education, healthcare, environmental training, and rural development. Operations are yet to commence, and it is registered in India. The disclosure was made under SEBI Listing Regulations with all required annexure details provided.
This is a minor, CSR-driven subsidiary incorporation with negligible financial impact on shareholders, as the entire investment is just ₹1 lakh. The move is unlikely to affect the stock price and appears aimed at channeling the company's social responsibility initiatives through a dedicated entity.