Khaitan (India) Ltd Subsidiary Incorporation: Khaitan Strategy Limited

Khaitan (India) Ltd has disclosed the incorporation of a new wholly owned subsidiary, Khaitan Strategy Limited, under Regulation 30. The new subsidiary, Khaitan Strategy Limited, has an authorized share capital of INR 15,00,000 and is a newly incorporated entity. The capital investment will be decided by the Board. The subsidiary is a 100% owned subsidiary of Khaitan (India) Ltd and does not fall under related party transactions. The acquisition is not done at 'arm’s length' and the industry to which the entity being acquired belongs is not specified. The objects and impact of the acquisition are not disclosed, nor are any governmental or regulatory approvals required for the acquisition. The indicative time period for completion of the acquisition is not specified. The consideration is not specified, whether it is cash, share swap, or any other form. The cost of acquisition and/or the price at which the shares are acquired is not disclosed. The percentage of shareholding / control acquired and / or number of shares acquired is not specified. The entity acquired, Khaitan Fans and Appliances Limited, has no significant information disclosed about its products/line of business, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence.