Jindal Poly Films Applies for Striking Off of Subsidiary JPF API Laminates UK Limited
Jindal Poly Films Limited (JPFL) is undertaking corporate restructuring concerning one of its subsidiaries. The company has received notification that an application has been submitted for the striking off of JPF API Laminates UK Limited, a step-down subsidiary within the JPFL group structure.The corporate arrangement involves multiple layers of ownership. Jindal Poly Films Limited (JPFL) is the parent entity, and JPF Netherlands Investment B.V. operates as its Wholly Owned Subsidiary. Further, JPF API Laminates UK Limited is a Wholly Owned Subsidiary of JPF Netherlands Investment B.V., making it a step-down subsidiary of JPFL.
The striking-off process for JPF API Laminates UK Limited means that upon completion, the entity will cease to be a subsidiary of JPF Netherlands Investment B.V. and subsequently relinquish its status as a step-down subsidiary of Jindal Poly Films Limited. The company noted that JPF API Laminates UK Limited is not a material subsidiary of Jindal Poly Films Limited.
Financial details regarding the subsidiary for the last financial year are provided below:
| Particulars | Amount/Percentage |
|---|---|
| Turnover or Revenue contributed by the step down subsidiary | Rs. 0.52 Crore (0.01%) |
| Net worth of the step down subsidiary | Rs. -25.96 Crore (0%) |
JINDALPOLY Stock Price Movement
Jindal Poly Films Limited shares slipped on Wednesday, shedding 2.66% to close at ₹647.65 following the session. The stock traded a total volume of 21,001 shares during the day.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.
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