Nuvoco Vistas Subsidiary Algebra Endeavour to be Voluntarily Liquidated

Nuvoco Vistas Corporation Ltd announced that its wholly-owned subsidiary, Algebra Endeavour Private Limited (AEPL), will undergo voluntary liquidation under the Insolvency and Bankruptcy Code, 2016. This move is expected to simplify the group structure. Upon completion, Vadraj Energy (Gujarat) Limited, a step-down subsidiary, will become a wholly-owned subsidiary of Nuvoco. AEPL contributed negligible turnover (₹0.02 crores, Nil%) to Nuvoco's revenue in the last financial year but had a net worth of ₹115 crores, representing 1.12% of the company's net worth.