Pidilite Industries Limited has announced the voluntary liquidation of its wholly-owned step-down subsidiary in Bangladesh, Nina Percept (Bangladesh) Private Limited (NPBPL). This decision, effective from August 19, 2026, follows an order from the Registrar of Joint Stock Companies and Firms, Bangladesh. NPBPL has been inoperative since its incorporation due to a lack of business opportunities.
Subsidiary Liquidation in Bangladesh
Pidilite Industries Limited has officially commenced the process for the voluntary liquidation of its step-down subsidiary, Nina Percept (Bangladesh) Private Limited (NPBPL). This action was initiated following the receipt of an Order from the Registrar of Joint Stock Companies and Firms, Bangladesh. The liquidation is effective from August 19, 2026, as per the said order and prevailing local laws.
Reasons for Inoperability
The decision to liquidate NPBPL stems from its prolonged inoperability since its incorporation. The company cited a consistent lack of business opportunities as the primary reason for this strategic move. Although NPBPL was incorporated as a wholly-owned subsidiary, it did not engage in substantial business operations.
Disclosure Details
As per the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, an explanation regarding this disposal has been provided. The disclosure confirms that NPBPL contributed nil to Pidilite’s turnover and income in the last financial year ending March 31, 2026. The subsidiary reported a net worth of BDT 30,13,824 and an income/(loss) of BDT (7,01,654) as of the same date. The company stated that the agreement for sale has been not applicable, as the subsidiary is being voluntarily liquidated.
Further details indicate that the expected date of completion of disposal is linked to the liquidation process. Consideration received from this sale/disposal is also not applicable, and there are no specific buyers mentioned, nor do any buyers belong to the promoter group. The transaction is not considered a related-party transaction, and it does not fall within a scheme of arrangement.
Source: BSE
