We would like to inform you that India Steamship Limited, India ('ISL') is a wholly owned subsidiary of Chambal Fertilisers and Chemicals Limited ('Company'). This subsidiary is not having any business operations.
We have been informed today by ISL that subject to the approval of shareholders and other requisite approvals, the Board of Directors of ISL has approved on October 29, 2018, the voluntary liquidation of ISL.
The Company being a shareholder of ISL, the Board of Directors of the Company has also approved on October 29, 2018, the aforesaid voluntary liquidation of ISL.
As per the audited financial statements for the Financial Year 2017-18, the Income and Networth of ISL are given in the attached letter.