Setco Engineering hold less than 50% of share capital of Setco Automotive
Setco Automotive announced change in the status of the Company as under -1. Setco Automotive was a Subsidiary Company of Setco Engineering.
2. Setco Engineering was holding 6,77,13,845 shares of Setco Automotive (50.69%).
3. Setco Engineering has divested 16,00,000 shares representing 1.20% through inter-se transfer among the promoters.
4. The holding of Setco Engineering has been reduced to 6,61,13,845 shares representing 49.49%.
5. Now, Setco Engineering is holding less than 50% of the equity share capital of Setco Automotive and as per Section 2 (87) of the Companies Act, 2013, the Company ceased to be Subsidiary Company of Setco Engineering and Setco Engineering ceased to be the Holding Company of Setco Automotive.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app