Cambridge Technology Enterprises Limited Announces Subsidiary Divestments and Key Personnel Change
Cambridge Technology Enterprises Limited announced on March 30, 2026, that its Board of Directors approved the divestment of 100% shareholding in two subsidiaries: R.P. Web Apps Private Limited and CTE Technology Solutions Private Limited (formerly known as CTE Web Apps Private Limited).The company will sell 60,880 shares of R.P. Web Apps Private Limited with a face value of Rs. 10 each for INR 6,08,800 to AKIT IT Consulting Private Limited. Upon completion of the transfer, R.P. Web Apps Private Limited will cease to be a wholly owned subsidiary of Cambridge Technology Enterprises Limited. The turnover contributed by the subsidiary during the last financial year was INR 4,84,84,150, representing 2.4% of the company’s total turnover. The net worth contribution was INR 2,98,31,200, representing 4.9% of the company’s net worth.
For CTE Technology Solutions Private Limited, the company will sell 10,000 shares with a face value of Rs. 10 each for INR 1,00,000 to Bizserve Technology Investments Pte Limited. This transfer will also result in CTE Technology Solutions Private Limited ceasing to be a wholly owned subsidiary. The turnover contributed by the subsidiary during the last financial year was INR 1,41,206.18, representing 0.007% of the company’s total turnover. The net worth contribution was INR 1,00,000, representing 0.016% of the company’s net worth.
Separately, the company announced that Mr. Sreenivasa Sastry Tumuluru has ceased to be the Manager (KMP) of the Company, effective March 30, 2026, due to his expressed unwillingness to continue in the role.
The Board of Directors also approved a Postal Ballot Notice for the shareholder approval of the appointment of Mr. Raj Kumar Sehgal as a Whole-Time Director, as his appointment requires shareholder approval within three months. A cut-off date of March 27, 2026, was fixed for determining the eligibility of shareholders to vote. Mr. Kashinath Sahu, Practicing Company Secretary, has been appointed as the Scrutinizer for the Postal Ballot process.
The Board Meeting commenced at 3:30 P.M. IST and concluded at 6:35 P.M. IST.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.