As per the stock exchange filing, the company said Reliance Industries Uruguay Petroquimica S.A. (Reliance Uruguay) has been dissolved and has ended to be a wholly-owned subsidiary of the company with effect from September 26, 2024.
Mukesh Ambani-led Reliance Industry declared voluntary liquidation of its wholly-owned subsidiary, Reliance Industries Uruguay Petroquimica S.A. (Reliance Uruguay on September 27.
As per the stock exchange filing, the company said Reliance Industries Uruguay Petroquimica S.A. (Reliance Uruguay) has been dissolved and has ended to be a wholly-owned subsidiary of the company with effect from September 26, 2024.
The company found in its assessment that Reliance Uruguay was a non-operating unit and had zero contribution to the company’s net worth in the financial year of 2023-24.
A certificate has been issued after the liquidation process was officially completed. It corroborated the cessation of Reliance Uruguay as a subsidiary. Reliance Industry had made an investment of Rs 0.65 crore in Reliance Uruguay.
Shares of Reliance Industries were up by Rs 51.70 or 1.72% on the Bombay Stock Exchange.