This is the reason
3) Accorded approval to Subsidiary Company ie Premco Global Vietnam Co Ltd (PGVCL) to repay the Capital Contribution of its deceased shareholder at a mutually agreed price and make necessary amendments in its Charter & Investment License.This will transform the type of enterprise of PGVCL from Limited Liablity Company with two members to one member limited liability Company by way of Capital Reduction which would result in Subsidiary Company being converted into Wholly Owned Subsidiary Company.
If we just take out Indian operation then Vietnam had only sales of 6 cr this quarter and nil profits. They have kept stock with them and it’s part of business to maintain relation with MNC
Subscribe To Our Free Newsletter |