Veedol Corporation Limited finalizes closure of wholly owned subsidiary Veedol Deutschland GmbH in Germany. Liquidation registers officially in German commercial register on January 15, 2026. Process began with board resolution on May 18, 2024, confirming no operational impact on parent.
Closure Timeline and Process
Company resolved to shut operations effective September 1, 2024, under German law. Liquidation completes after initial disclosure in May 2024. Veedol complies with SEBI Regulation 30 and related circulars for disclosures.
Financial Non-Impact
Subsidiary contributed nil to turnover, revenue, income, and net worth last year. Closure streamlines international structure without affecting core business. Geographies shift to other subsidiaries for supply chain management.
Strategic Restructuring
Move optimizes European operations amid efficiency drives. Parent focuses on lubricant solutions for automotive, including EV segments. No sale or third-party transfer involved, purely dissolution.
