Update on closure of SPPL, Wholly Owned Subsidiary through voluntary liquidation
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Sandur Manganese & Iron Ores Ltd (SANDUMA) has announced the formal dissolution of its wholly owned subsidiary, Sandur Pellets Private Limited (SPPL), following NCLT Bengaluru Bench's order dated 29 April 2026. SPPL was incorporated in May 2022 with plans to engage in production, pelletization, and trading of ferrous and non-ferrous metals. However, the subsidiary never commenced any business operations and generated no operating revenues throughout its existence. The voluntary liquidation was approved under the Insolvency and Bankruptcy Code, 2016. The contribution of SPPL to the listed entity's turnover, revenue, and net worth was negligible.
The dissolution of SPPL has no material financial impact on Sandur Manganese & Iron Ores Ltd, as the subsidiary was dormant with no operations or revenues. Shareholders are not expected to be materially affected.