Subsidiary2 May 2026, 12:00 pm
Sandur Manganese: SPPL Voluntary Liquidation Approved
AI Summary
Sandur Manganese & Iron Ores Ltd announced that the National Company Law Tribunal, Bengaluru Bench, approved the voluntary liquidation of its wholly-owned subsidiary, Sandur Pellets Private Limited (SPPL), on April 29, 2026. SPPL, incorporated on May 7, 2022, with the intention of ferrous and non-ferrous metals production, had not engaged in any business operations or generated revenue since its inception, leading to its dissolution under the Insolvency and Bankruptcy Code, 2016.
Key Highlights
- NCLT Bengaluru approved SPPL's voluntary liquidation on April 29, 2026.
- SPPL, a wholly-owned subsidiary, is now dissolved as per IBC regulations.
- SPPL had no business operations or revenue since its incorporation in 2022.
- The liquidation was initiated due to the lack of operational activity in SPPL.
Price Impact
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