Rajasthan Securities to Incorporate Wholly Owned Subsidiary
Rajasthan Securities Ltd announced that its Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) in India. The proposed subsidiary will have an authorized and paid-up share capital of Rs. 1,00,00,000/-. The WOS will engage in general trading and trading in securities, aligning with the main business of Rajasthan Securities Limited. The initial capital contribution will be in cash, up to Rs. 1 Crore. The incorporation is subject to necessary approvals from the Ministry of Corporate Affairs and other relevant authorities. The company clarified that while the WOS will be a related party, no promoter or promoter group currently has an interest in it, as the company has no promoter, promoter group, or group company at present.
Key Highlights
- Board approves incorporation of a Wholly Owned Subsidiary in India.
- Proposed subsidiary to have Rs. 1 Crore authorized and paid-up capital.
- WOS will focus on general trading and securities trading.
- Incorporation subject to regulatory and MCA approvals.
- Initial capital to be contributed in cash.
Price Impact
More from RAJSEC