Servotech Renewable Power System Limited has informed the Exchange regarding 'Intimation of Strike-off of subsidiary of the Company.'
SERVOTECH · price
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Servotech Renewable Power System Limited has informed the stock exchange that its subsidiary, Techbec Industries Limited (TIL), has been struck off from the register of companies by the Registrar of Companies (ROC) and has ceased to exist as a subsidiary. The strike-off was done under Section 248 of the Companies Act, 2013, following a voluntary application by TIL itself. Importantly, TIL had no operations since its incorporation and contributed nil revenue, income, and net worth to the company. The company clarified that this is not a sale or disposal of any business undertaking — it is simply winding up a dormant, non-operational subsidiary.
This is a routine housekeeping action with no material financial impact on Servotech or its shareholders, as the dissolved subsidiary had no operations or financial contribution. The stock price is unlikely to be affected.