Board approves proposal for sale of subsidiary Shikshan School Private Limited
The board of Virtual Global Education Ltd has approved the proposal for sale/disposal of its subsidiary, Shikshan School Private Limited.
By ScoutQuest · · 1 min read
- Subsidiary Contribution
- No turnover, revenue or income contributed by the subsidiary during the last financial year
- Pricing Basis
- Price determined by the Registered Valuer
- Related Party Status
- Transaction is not a Related Party Transaction
The board of Virtual Global Education Ltd met on 21st October, 2026 and approved the proposal for sale/disposal of the company's subsidiary, M/s Shikshan School Private Limited.
What has been approved
- The board has approved the sale/disposal of the subsidiary.
- The company will proceed with the sale/disposal after searching for a suitable prospective buyer.
- The transaction will take place at the price determined by the Registered Valuer.
What the subsidiary contributes today
- No turnover, revenue or income was contributed by the subsidiary during the last financial year.
- In the disclosure table, the amount and percentage of turnover, revenue, income and net worth contributed by the subsidiary is answered as No turnover or revenue or income was contributed by the said property.
Nature of the transaction
- The transaction is not a Related Party Transaction.
- On the question of whether any buyer belongs to the promoter, promoter group or group companies, the update marks it Not Applicable.
- Consideration received from the sale/disposal is marked Not Applicable.
- The transaction is not outside a Scheme of Arrangement, and the slump sale question is marked Not Applicable.
Timeline
- The agreement for sale has not been entered into; the company is in search of a prospective buyer.
- The expected date of completion depends on the time taken for searching a buyer and receiving all approvals.
Points a retail investor can track
- Who the prospective buyer turns out to be.
- The price the Registered Valuer arrives at for the subsidiary.
- The approvals needed before the sale can be completed, and the resulting timeline.
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Board approves appointment of Krishan Bansal as CFO and Executive Director
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Chief Financial Officer resigns on personal grounds; company says it is in process of appointing a successor
21 Oct 2026
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