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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The Board of Directors of Veritas (India) Ltd, at its meeting on December 3, 2025, has in-principle approved the transfer and disposal of certain assets of its material subsidiary Verasco FZE (UAE) to Inergy FZE, Sharjah. The deal involves assets worth USD 130 million (Rs. 1,170 Crores) and liabilities of USD 80 million (Rs. 720 Crores) being moved for a base consideration of USD 50 million (Rs. 450 Crores). Since Verasco FZE is a material subsidiary, the transaction requires shareholder approval via a Special Resolution through Postal Ballot. The deal is also subject to definitive agreements and regulatory clearances, with value revisions possible. Separately, the Board approved the appointment of Mr. Sunil Sehgal (DIN: 02561520) as a Non-Executive Non-Independent Director, subject to shareholder approval via Ordinary Resolution.
This is a significant asset restructuring for Veritas (India), involving the disposal of a major chunk of its subsidiary's assets. Shareholders will need to approve the deal through postal ballot, and final value may change during negotiations, which could create near-term uncertainty around the stock.