Board Authorization and Management Action
The Board of Directors of Source Natural Foods & Herbal Supplements Limited, at its meeting held on August 10, 2026, authorized Mr. Narasimhan Arvind Varchaswi, Managing Director of the Company, to take all necessary steps and actions for incorporation of a wholly owned subsidiary.
Pursuant to this authority, the Managing Director approved proceeding with the incorporation on August 12, 2026. The proposed subsidiary will be named "SN Solar Mangaluru Private Limited" or such other name as may be approved by the Registrar of Companies.
Subsidiary Details
Proposed Name: SN Solar Mangaluru Private Limited (subject to MCA approval)
Country of Incorporation: India
Ownership Structure: 100% wholly owned by Source Natural Foods & Herbal Supplements Limited
Industry: Green or renewable energy and related activities
Business Purpose: To develop, implement, own, operate and maintain grid-connected Solar PV power projects
Incorporation Process and Timeline
The incorporation process, including name reservation and other statutory filings with the Ministry of Corporate Affairs, is currently under process. The completion is subject to receipt of approvals from statutory/regulatory authorities as may be applicable. The company will provide necessary updates once the subsidiary is incorporated.
Financial Considerations
Nature of Consideration: Cash consideration
Subscription Price: Shares will be subscribed at face value
Shareholding Percentage: 100% ownership by Source Natural Foods & Herbal Supplements Limited
Regulatory Requirements
The incorporation of the proposed wholly owned subsidiary is subject to the approval of the Ministry of Corporate Affairs and other relevant statutory/regulatory authorities as may be applicable.