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Vardhman Polytex gains 1% on liquidation of 100% wholly-owned overseas subsidiary

Consequent to the liquidation, FM Hammerle Verwaltungs, Gmbh, Austria, ceased to be the subsidiary of the Company.

December 10, 2021 12:21 IST | India Infoline News Service
Vardhman Polytex Ltd has informed that FM Hammerle Verwaltungs, Gmbh, Austria, a Wholly Owned Overseas Subsidiary of the Company, incorporated under the law of Austria, has been liquidated.

As per regulatory filing, company was not a material subsidiary. Consequent to the liquidation, FM Hammerle Verwaltungs, Gmbh, Austria, ceased to be the subsidiary of the Company.

The Company contributed revenue of Rs24.47 lakhs (0.048% of Consolidated Revenue) and Negative Net Worth during the FY 2020-21;

At around 12:19 PM, Vardhman Polytex was trading at Rs24.75 apiece up by Rs0.25 or 1.02% from its previous closing of Rs24.50 apiece on the BSE.

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