GHCL Limited has formally announced the voluntary closure of its non-operational, wholly owned US subsidiary, Dan River Properties LLC, effective February 18, 2026. The subsidiary, which held a property that was disposed of, had negligible financial impact, contributing only 0.02% (Rs. 0.65 Crores) to turnover and holding a net worth of Rs. 6.06 Crores as of March 31, 2025. Confirmation documents, including the Certificate of Cancellation dated February 19, 2026, have been submitted.
Confirmation of Subsidiary Closure
GHCL Limited has officially confirmed the voluntary closure of its non-operational, wholly owned subsidiary based in the USA, named “Dan River Properties LLC”. The closure was finalized on February 18, 2026, with the company receiving necessary confirmation on February 20, 2026. A copy of the Certificate of Cancellation, issued by the State of Delaware on February 19, 2026, validates this action.
Financial Impact Analysis
The subsidiary was non-operational at the time of closure. However, details based on the audited Consolidated Financial Statement for the year ended March 31, 2025, highlight its minimal contribution to the listed entity:
- Turnover/Revenue Contribution: Rs. 0.65 Crores, representing 0.02%.
- Net Worth: Rs. 6.06 Crores.
The subsidiary had previously disposed of its property, and the sale proceeds were received as per agreed terms prior to the liquidation filing.
Transaction Details and Status
Since the closure was a voluntary liquidation rather than a sale, several key transactional parameters were deemed Not Applicable:
- No agreement date for sale was entered into.
- No consideration was received from a sale/disposal.
- The transaction does not fall under related party transactions.
- No details of buyers needed to be disclosed as it was not a slump sale.
The documentation confirms that the subsidiary was voluntarily closed on February 18, 2026, which serves as the effective completion date for this structural change.
Source: BSE
