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Century Plyboards incorporates wholly-owned subsidiary Century Infra

Friday, 31 Dec 2021
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Century Plyboards has incorporated a wholly-owned subsidiary Century Infra at Kolkata, West Bengal, on 30 December 2021. 
Century Infra has been incorporated with an authorised share capital of five lakh and paid-up share capital of Rs five lakh. 
CIL has been incorporated as a wholly-owned subsidiary of the company and post incorporation, it becomes a related party. However, the initial subscription amount mentioned above does not fall within the ambit of related party transaction. 
The promoter/promoter group of the company have no personal interest in CIL. 
CIL is incorporated to carry out the business of containers freight stations services, container handling services, warehousing of imported and exported goods, storage and other related services. Subsidiarisation of this business would enable unlocking its growth potential.
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