Embassy Developments Ltd Completes Strike-Off of Subsidiary Apesh Real Estate Limited
Embassy Developments Ltd announced that Apesh Real Estate Limited (AREL), a step-down subsidiary, has been struck off the register of companies maintained by the Registrar of Companies (ROC). This action is part of the company's ongoing efforts to streamline its corporate structure and reduce associated administrative and compliance costs.The status of AREL is now dissolved, meaning it has ceased to be a subsidiary of Embassy Developments Ltd.
While the company noted that this event does not qualify as the sale of any unit, division, or substantially the whole of an undertaking or subsidiary, the information was provided for good corporate governance.
Details of Subsidiary Strike-Off
The details concerning the strike-off of Apesh Real Estate Limited are presented below, reflecting the non-sale nature of the disposal:| Requirement | Information |
|---|---|
| Amount and percentage of turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year | Nil |
| Date on which the agreement for sale has been entered into | April 06, 2026, being the date mentioned in the notice of striking off issued by the concerned ROC |
| The expected date of completion of sale/disposal | April 06, 2026, being the date mentioned in the notice of striking off issued by the concerned ROC |
| Consideration received from such sale/disposal | Not applicable, as the disposal was carried out by way of strike-off. |
| Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof | Not applicable, as the disposal was carried out by way of strike-off. |
| Whether the transaction would fall within related party transactions? If yes, whether the same is done at 'arm's length' | Not applicable, as the disposal was carried out by way of strike-off. |
| Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODRRegulations | Not applicable, as the disposal was carried out by way of strike-off. |
| Additionally, in case of slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale | Not applicable, as the disposal was carried out by way of strike-off. |
EMBDL Stock Price Movement
At the close of trade, shares of Embassy Developments Limited are rallying by 4.99% to trade at ₹45.67. The stock finished near its intraday peak, having traded between ₹43.50 and ₹45.67 on a volume of 947,786 shares.Source:
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