Embassy Developments announced the strike-off of its step-down subsidiary, Apesh Real Estate Limited, as part of a corporate simplification initiative to reduce compliance costs.
The subsidiary, Apesh Real Estate Limited, was struck off the companies register and has ceased to be a subsidiary, with the event disclosed under SEBI LODR regulations.
The company confirmed the subsidiary contributed nil revenue and net worth in the last financial year, and the action does not constitute a sale of assets.