Scrip Code – 532832
Key Event Details
- The company's wholly owned subsidiary, Dev PropertyDevelopment Limited (DPDL), has been struck off and dissolved.
- As a result, DPDL has ceased to be a subsidiary of Embassy Developments Limited.
- The company clarifies that this event does not qualify as a sale of any unit, division, or substantially the whole of the undertaking or subsidiary.
Rationale and Context
This action is part of the company's ongoing initiative to simplify its corporate structure and reduce administrative and compliance costs. It follows earlier intimations regarding the voluntary strike-off of certain non-operational subsidiaries.
Regulatory Compliance and Annexure Details
The disclosure includes Annexure A, which provides details in the format prescribed under the SEBI Master Circular dated January 30, 2026. Key information from the annexure includes:
- The turnover/revenue/income and net worth contributed by DPDL during the last financial year is stated as "Nil."
- The disposal was carried out by way of voluntary strike-off, making most other fields in the annexure either "Nil" or "Not Applicable."
- Specifically, fields related to agreement date, expected completion date, consideration received, buyer details, related party transactions, and scheme of arrangement are all marked as "Not applicable" or contain explanatory text confirming the strike-off method.
Financial and Operational Impact
As per the annexure, the subsidiary contributed nil amount to the company's turnover, revenue, income, or net worth during the last financial year. No consideration was received from this disposal.
Corporate Identification
Company CIN: L45101HR2006PLC095409
#Tags: #EmbassyDevelopments #SEBIRegulation30 #CorporateRestructuring #SubsidiaryStrikeOff #RegulatoryCompliance #Neutral