Wholly Owned Subsidiary Pofran Sales and Agency Applies for Voluntary Strike-Off
KSB has informed that Pofran Sales and Agency Limited, its wholly owned subsidiary, has applied for strike-off with the Registrar of Companies, Pune.
- Subsidiary Name
- Pofran Sales and Agency Limited
- Incorporation Date
- January 7, 2005
- Inoperative Period
- Past seven years
- Financial Contribution
- No turnover, net worth contribution or consideration involved
- Status
- Applied for voluntary strike-off with Registrar of Companies, Pune
What was shared
KSB Limited has intimated the exchanges that Pofran Sales and Agency Limited, a wholly owned subsidiary, has made an application for strike-off with the Registrar of Companies, Pune.
About the subsidiary
- Pofran was incorporated on January 7, 2005.
- It has been inoperative for the past seven years.
- On completion of the voluntary strike-off, Pofran will cease to be a subsidiary of KSB.
Financial details shared
- Turnover, revenue, income and net worth contribution by Pofran in the last financial year: stated as not applicable, as the company has been inoperative.
- There is no sale agreement, no buyer and no consideration, since this is a strike-off and not a sale.
- It is not treated as a related party transaction and is not part of a Scheme of Arrangement.
Timeline
Completion will follow the prescribed timelines for voluntary strike-off under the Companies Act, 2013.
How to read it
A strike-off simply removes a dormant company from the register of companies. Since the subsidiary was not operating, this is essentially a housekeeping step to simplify the group structure.
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More numbers
- Years Pofran has been inoperativeseven years
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