Key Event
The Board and Members of Algebra Endeavour Private Limited (AEPL), a wholly owned subsidiary of Nuvoco Vistas Corporation Limited, at their respective meetings held on October 15, 2026, approved the voluntary liquidation of AEPL under Section 59 of the Insolvency and Bankruptcy Code, 2016.
Financial Impact Assessment
- Turnover Contribution: Rs 0.02 crores as of March 31, 2026 (Nil percentage contribution to company's turnover)
- Net Worth Contribution: Rs 115 crores as of March 31, 2026 (1.12% of company's net worth)
Structural Impact
Upon completion of the voluntary liquidation process and dissolution of AEPL, Vadraj Energy (Gujarat) Limited (VEGL), currently a step-down subsidiary of the company, will become a wholly owned direct subsidiary of Nuvoco Vistas Corporation Limited. This will simplify the group structure of the company.
Transaction Details
- Agreement Date: Not applicable
- Expected Completion: Upon receipt of order from National Company Law Tribunal
- Consideration: Not applicable
- Buyer Details: Not applicable
- Related Party Transaction: Not applicable
- Scheme of Arrangement: Not applicable
- Slump Sale Disclosures: Not applicable
Status
Pending approval from the National Company Law Tribunal for completion of the voluntary liquidation process.