Reliance Communications Subsidiary in Cyprus Registered as Dissolved
Reliance Communications Limited has reported that its foreign step-down subsidiary, Reliance Telecom Infrastructure (Cyprus) Holdings Limited, has changed its status from 'Active' to 'Dissolved.' The status change was noted during a routine compliance review, based on information available from the Department of Registrar of Companies, Cyprus.The company confirmed the dissolution of the subsidiary, as recorded by the Department of Registrar of Companies, Cyprus. Reliance Communications Limited is currently examining the full implications of this dissolution and evaluating any necessary actions required in relation to the change in status.
The company noted that no violation or contravention was reported by the Cyprus department. Regarding the impact on the listed entity, the disclosure stated that there is no material impact on the financials or operations of RCOM. The implications of the dissolution, however, are currently under review, and necessary actions are being evaluated.
The following table summarizes the key details concerning the dissolution of the Cyprus subsidiary:
| Particulars | Details |
|---|---|
| Name of Authority | Department of Registrar of Companies, Cyprus |
| Nature of Action | Dissolution of Reliance Telecom Infrastructure (Cyprus) Holdings Limited, as per records of the Department of Registrar of Companies, Cyprus |
| Violation Reported | No violation or contravention has been reported. |
| Impact on RCOM | No material impact on the financials or operations of RCOM. The implications are currently being examined and necessary actions are being evaluated. |
RCOM Stock Price Movement
Shares of Reliance Communications Limited are edging higher to ₹1.05 as of 11:47 AM today, rebounding sharply by 0.96% in live trading. The stock is seeing considerable activity, with 1.92 million shares turning over during the current market session.Source:
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