Embassy Developments has initiated the voluntary strike-off of its wholly-owned subsidiaries, Serpentes Constructions Limited (SCL) and Albasta Developers Limited (ADL). The strike-off simplifies the corporate structure, reduces administrative costs, and improves operational efficiency. The decision, effective January 27, 2026, dissolves both SCL and ADL. These subsidiaries had no recent operations, making their continuation infeasible.
Subsidiary Restructuring
Embassy Developments Limited announced the voluntary strike-off of two of its wholly-owned subsidiaries: Serpentes Constructions Limited (SCL) and Albasta Developers Limited (ADL). The decision was made following voluntary applications under Section 248 of the Companies Act, 2013.
Rationale for Strike-Off
The primary reasons for the voluntary strike-off include:
- Simplifying the corporate structure.
- Reducing unnecessary administrative and compliance costs.
- Improving overall operational efficiency.
Both subsidiaries had not been operational in recent years, leading to the conclusion that their continuation was no longer feasible. The effective date of the dissolution is January 27, 2026. The company came to know about this on January 29, 2026.
Impact of the Decision
As a result of the strike-off, SCL and ADL are now dissolved and are no longer wholly-owned subsidiaries of Embassy Developments Limited. This action is expected to streamline operations and reduce overhead costs for the parent company.
Source: BSE
