Sudarshan Chemical Industries Limited has completed the liquidation of its step-down wholly owned subsidiary, Heubach Colorants Scandinavia AB, domiciled in Sweden. The liquidation became effective on December 29, 2025, as disclosed to the stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Impact and Subsidiary Details

The liquidated entity had minimal financial contribution to the parent company's operations. According to the regulatory filing, Heubach Colorants Scandinavia AB recorded zero turnover for FY 2024-25, representing 0% contribution to the group's revenue.

Background and Timeline

The Swedish subsidiary was already under voluntary liquidation process when Sudarshan Europe B.V., a wholly owned subsidiary of Sudarshan Chemical Industries, completed the acquisition of Heubach Group's Global Pigment Business Operations on March 3, 2025. This acquisition was executed along with Persons Acting in Concert (PACs).

Liquidation Process Details

As disclosed in the regulatory filing, the liquidation process involved several key aspects:

Corporate Structure Impact

The completion of this liquidation simplifies Sudarshan Chemical Industries' corporate structure by removing a non-operational entity from its subsidiary portfolio. The Swedish entity's minimal financial footprint ensures that its liquidation will have negligible impact on the parent company's consolidated financial statements.

Regulatory Disclosure

The company has fulfilled its disclosure obligations under SEBI regulations by providing comprehensive details about the liquidation process, financial impact, and timeline. The disclosure confirms that all regulatory requirements have been met in connection with the subsidiary's liquidation.

Sudarshan Chemical Industries Limited has successfully completed its postal ballot process on December 26, 2025, announcing the appointment of four new directors to strengthen its board composition. The company conducted the entire voting process through remote e-voting, with all proposed resolutions receiving overwhelming shareholder support and confirmation from the appointed scrutinizer.

Board Appointments Overview

The postal ballot covered four key director appointments, with two special resolutions for independent directors and two ordinary resolutions for non-independent directors. All appointments were approved with requisite majority, reflecting strong shareholder confidence in the proposed board structure.

Voting Results and Shareholder Response

The scrutinizer's report confirmed exceptional shareholder support across all resolutions. The promoter and promoter group demonstrated unanimous support with 64,40,604 votes representing 100.00% approval across all four appointments. Public shareholders also showed substantial backing, with over 99.99% approval rates for both independent director appointments.

Process Timeline and Compliance

The company engaged National Securities and Depositories Limited (NSDL) to facilitate the remote e-voting process. Mr. Rajesh Karunakaran, Practicing Company Secretary (FCS 7441, C.P. No. 6581) from Pune, served as the appointed scrutinizer and submitted his comprehensive report confirming regulatory compliance.

Regulatory Framework and Documentation

The postal ballot was conducted in accordance with Section 110 of the Companies Act, 2013, Rule 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The process also complied with various MCA circulars and SEBI guidelines for conducting postal ballots through electronic voting.

The successful completion of this postal ballot process strengthens Sudarshan Chemical Industries' board governance structure with the addition of experienced professionals in both independent and non-independent director roles. The company's commitment to transparent and compliant corporate governance practices is evident through the comprehensive documentation and regulatory adherence demonstrated throughout the voting process.