Zodiac Clothing Company Limited has submitted a revised disclosure under Regulation 30 of the SEBI Listing Regulations regarding the voluntary liquidation of its stepdown subsidiary.
Key Event Details
The voluntary liquidation application of Zela Technologies Inc. was approved by the Delaware Authorities on August 7, 2026. The company received notification of this approval on August 10, 2026.
Financial Impact Assessment
As of March 31, 2026, the subsidiary contributed the following to the listed entity:
- Revenue from operations: USD 667, equivalent to ₹58,905
- Revenue percentage: 0.01% of total company revenue
- Net Worth: USD (49,152), equivalent to ₹(46,13,095) [negative value]
- Net Worth percentage: (0.25%) of total company net worth [negative contribution]
Additional Details
The annexure clarifies that:
- No agreement for sale was entered into as it is a voluntary liquidation
- No expected completion date is applicable for voluntary liquidation
- No consideration was received from the disposal
- No buyers were involved
- The transaction does not constitute a related party transaction
- The disposal is not part of any Scheme of Arrangement
- The transaction is not a slump sale