Divestment27 Apr 2026, 06:14 pm
Jindal Saw Board Approves Disposal of 100% Cyprus Subsidiary
AI Summary
Jindal Saw Ltd's Board of Directors, in a meeting held on April 27, 2026, has approved in principle the disposal (either by sale or liquidation) of its wholly-owned Cyprus subsidiary, Raleal Holdings Limited. As of March 31, 2026, Raleal Holdings Limited reported NIL turnover/revenue/income and a negative net worth of Euro 9,762,501. Specific details regarding the agreement date, expected completion, consideration, and buyers are yet to be decided. The company clarified that this transaction would not fall under related party transactions.
Key Highlights
- Jindal Saw board approved disposal of 100% Cyprus subsidiary.
- The subsidiary, Raleal Holdings, reported NIL turnover and negative net worth.
- Disposal aims to streamline operations or divest non-performing assets.
- Further transaction details like consideration and buyer are pending.