Cyient Inc., the wholly owned subsidiary of Cyient Ltd., has incorporated a new entity in Delaware, USA, named ‘CDS Lavender Holdings, Inc.’. The new holding company is wholly owned (100%) by Cyient Inc., with the capital infusion made via cash subscription to the company’s bylaws. The primary object of this newly formed corporation is to engage in lawful corporate activities within the Aerospace/Defense industry sector.
Formation of New US Subsidiary
Cyient Ltd. announced the incorporation of a new entity in Delaware, USA, through its wholly owned subsidiary, Cyient Inc. The new entity has been registered as ‘CDS Lavender Holdings, Inc.’. This move signifies an expansion or restructuring effort being undertaken by the parent company in the US market, specifically relating to the Aerospace/Defense industry.
Acquisition and Ownership Details
The disclosure confirms that Cyient Inc. holds 100% of the shareholding/control in the newly formed subsidiary. The consideration for the acquisition was structured as a cash consideration, involving the subscription to the bylaws of the company for its share capital. As this is a fresh incorporation, the cost of acquisition is currently listed as NA, and the entity itself is newly incorporated with no prior turnover history.
Objects and Operational Scope
The stated objects of ‘CDS Lavender Holdings, Inc.’ are broad, aiming ‘To engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of Delaware.’ Notably, this acquisition does not fall within the main line of business of the listed entity (Cyient Ltd.) in the context of acquiring an external business, as it is a newly created subsidiary. The reporting confirms that the transaction does not involve any related party interests.
Source: BSE
