Rajasthan Securities Limited disclosed the outcome of its Board of Directors meeting held on July 14, 2026, regarding the formation of a wholly owned subsidiary.
Board Meeting Details
The Board of Directors meeting was held on July 14, 2026, at 4:00 PM at the company's registered office in Nagpur. The meeting commenced at 4:00 PM and concluded at 5:35 PM.
Subsidiary Details
The company approved the incorporation of a Wholly Owned Subsidiary (WOS) in India. The name of the subsidiary will be determined upon approval by the Ministry of Corporate Affairs, Government of India.
Financial Details
- Proposed authorized and paid-up share capital: ₹1,00,00,000 (One Crore Rupees)
- Size/Turnover: Not applicable (new entity)
Related Party Considerations
The proposed WOS will be a related party of the company upon incorporation. However, the company clarified that it has no promoter, promoter group, or group companies as of the disclosure date. The transaction is structured at arm's length.
Business Activities
The subsidiary will carry on business of general trading, trading in securities, and allied business activities that are in line with the main business activity of Rajasthan Securities Limited.
Purpose and Impact
The subsidiary is being incorporated to support the company's long-term growth strategy. The business of the WOS is not outside the main line of business of the company.