The company held 99 per cent of the equity share capital of Excel Crop Care (Europe) NV
Sumitomo Chemicals India has informed that it is in the process of voluntary winding up of Excel Crop Care (Europe) NV, Belgium, an unlisted subsidiary of the company. The said subsidiary now stands wound up and closed.
The company held 99 per cent of the equity share capital of Excel Crop Care (Europe) NV. The subsidiary was not a material subsidiary and was a solvent company not having financial liabilities on its balance sheet.
The subsidiary had not been having business / commercial activities/sales turnover/profits for the past several years.
The winding-up and closure of Excel Crop Care (Europe) NV is not likely to impact the business, commercial activities, financial position and financial statements of the company/group in any material manner.
