Voluntary strike off of a dormant Uganda step down subsidiary, expected to complete by March 31, 2027
The Board of Blue Star International FZCO (BSIF), a wholly owned subsidiary, has approved the voluntary strike off of Blue Star Air Conditioning & Refrigeration (U) Limited (BS AC&R UL).
By ScoutQuest · · 2 min read
- Strike off completion expected
- on or before March 31, 2027
- Date of incorporation
- June 27, 2023 in Uganda
- Net worth as at March 31, 2026
- negative net worth of AED 5,31,000 (approx. Rs 1.35 crores)
What the update announces
- The Board of Directors of Blue Star International FZCO (BSIF), a wholly owned subsidiary, at its meeting held on Wednesday, October 14, 2026, approved the voluntary strike off of Blue Star Air Conditioning & Refrigeration (U) Limited (BS AC&R UL).
- BS AC&R UL is a wholly owned subsidiary of BSIF and a step down subsidiary of the Company.
- The approval is subject to completion of necessary formalities as per the local laws of Uganda.
- Necessary applications will be made to the Uganda Registration Services Bureau for the strike off of BS AC&R UL.
- BS AC&R UL will cease to be a subsidiary of BSIF and of the Company upon completion of the voluntary strike off process.
What the annexure discloses about the entity
- BS AC&R UL was incorporated on June 27, 2023, in Uganda.
- It has not commenced any business since its incorporation.
- It has no turnover, revenue or income.
- As at March 31, 2026, the entity had a negative net worth of AED 5,31,000 (approx. Rs 1.35 crores).
- The strike off is expected to be completed on or before March 31, 2027.
Voluntary strike off, explained
A voluntary strike off is a process by which a company is removed from the register of companies at the request of its owners or management, rather than through a sale of the business. Here, the parent's board has approved the step, and the application goes to the Uganda Registration Services Bureau.
Particulars marked "Not Applicable" in the annexure
- Date on which the agreement for sale was entered into
- Consideration received from such sale or disposal
- Brief details of buyers, and whether any buyer belongs to the promoter, promoter group or group companies
- Whether the transaction falls within related party transactions, and if so, whether it is at arm's length
- Whether the sale, lease or disposal of the undertaking is outside a Scheme of Arrangement
- Disclosures required in the case of a slump sale
What this means in simple terms
- A step down subsidiary that was incorporated in 2023 and never began business is being taken off the register of companies in Uganda.
- The annexure states that the entity contributed no turnover, revenue or income, and that its net worth was negative as at the last stated date.
- The update states that the entity ceases to be a subsidiary of BSIF and of the Company once the strike off process is completed.
- The timeline given for completion is on or before March 31, 2027.
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More numbers
- Negative net worth of BS AC&R UL as at March 31, 2026 (AED)AED 5,31,000
- Negative net worth in rupees (approx.)approx. Rs 1.35 crores
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