Gokul Agro Resources' step-down subsidiary incorporates wholly-owned subsidiary in Indonesia

The second step-down subsidiary is registered under Indonesia's Company Law and is yet to commence its business.

Oct 20, 2021 12:10 IST India Infoline News Service

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Gokul Agro Resources Ltd has informed that Maurigo Indo Holdings Pte Limited, a Step Down Subsidiary of the company has incorporated a Wholly Owned Subsidiary Company "PT. RIYA PALM LESTARI" in Indonesia. Consequent to the said incorporation, PT. RIYA PALM LESTARI has become a Second Step Down Subsidiary of the Company.

Further, the business of second step-down subsidiary (SSDS) company would be of Edible Oils i.e. in the main line of business of the listed entity, the company said in a regulatory filing.

The second step-down subsidiary is registered under Indonesia's Company Law and is yet to commence its business.

At around 12:49 PM, Gokul Agro Resources was trading at Rs43 per piece lower by 0.35% on the BSE.

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