Water Proof Corporation Private Limited ceases to be subsidiary of Ladderup Finance Limited

The company had earlier announced about the approval of divestment by way of Transfer of 1 Equity Shares (out of 75001 Equity Shares) of Water Proof Corporation Private Limited held by Ladderup Finance Limited to the existing shareholder of the Water Proof Corporation Private Limited and post execution of aforesaid Transfer, the Water Proof Corporation Private Limited would cease to be Subsidiary Company and will become Associate/ (50%-50%) Joint Venture Company of Ladderup Finance Limited.

Ladderup Finance Limited have transferred the aforesaid share which has been duly approved by the Board of Directors of Water Proof Corporation Private Limited at their meeting held on 12th October, 2020.

Hence, Water Proof Corporation Private Limited has become the Associate/ (50%-50%) Joint Venture Company of Ladderup Finance Limited.

Source : Equity Bulls

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