TVS Supply Solutions has closed its subsidiary Transtar International Freight (Shanghai) (Transtar China). However the company has clarified that this will not have any material effect in its operations, it has informed its investors.
TVS Supply Chain, part of TVS Group, has informed its investors that on March 18, 2024, the company deregistered its foreign subsidiary Transtar International Freight Ltd (Transtar China).
The company in its regulatory filings dated March 18, 2024 revealed that as part rationalization of the holding structure of foreign subsidiaries, the step down subsidiary, Transtar International Freight (Shanghai) Ltd (Transtar China) has been deregistered.
The company further stated that Transtar China is dormant and not a material subsidiary. This is part of Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to a recent report by ET, TVS supply Chain Solutions is among the leading supply chain management companies in India and operates in a highly competitive industry. The company has a network across the value chain with cross deployment abilities. Its operating segments include integrated supply chain solutions (ISCS) and network solutions (NS).
