Camlin Fine Sciences Initiates Judicial Liquidation Proceedings for European Subsidiary
Camlin Fine Sciences Limited announced on March 18, 2026, that the Ordinary Court of Ravenna, Italy, has initiated judicial liquidation proceedings for CFS Europe S.p.A., a wholly-owned subsidiary of the company. This follows an appeal filed by the Collegio Sindacale (Board of Statutory Auditors) of CFS Europe S.p.A. on January 15, 2026.The proceedings are being carried out under the Italian Code of Corporate Crisis and Insolvency. The Court has appointed a delegated Judge and Court-appointed Liquidators (Curatori) to manage the procedure.
As of March 31, 2025, CFS Europe S.p.A. contributed a turnover of 7,873.81 Lakhs (4.72% of the total) and a net worth of 8,512.36 Lakhs (9.73% of the total) to Camlin Fine Sciences Limited.
The details of the proceedings are as follows:
| Particulars | CFS Europe S.p.A. | |
|---|---|---|
| a) | Amount and percentage of turnover, revenue, income, and net worth contributed during the last financial year | Turnover: 7,873.81 Lakhs (4.72%) Net worth: 8,512.36 Lakhs (9.73%) |
| b) | Date on which the agreement for sale has been entered into | January 15, 2026 (date of appeal for judicial liquidation) |
| c) | Expected date of completion of sale/disposal | Under process of judicial liquidation |
| d) | Consideration received from such sale/disposal | Repayment of proceeds of Liquidation if any, after completion of judicial liquidation proceedings. |
| e) | Details of buyers and whether they belong to the promoter/ promoter group/group companies | Not Applicable |
| f) | Whether the transaction would fall within related party transactions? If yes, whether the same is done at 'arms length' | Not Applicable |
| g) | Whether the transaction falls outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations. | Not Applicable |
| h) | Additional disclosures for slump sale (amalgamation/merger) | Not Applicable |
Camlin Fine Sciences Limited will provide further updates as material developments occur.
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.
Last edited by a moderator: