NEL Holdings South: Updates On Divestment Of Wholly Owned Subsidiary

Pursuant to our earlier announcements the Shareholders of the Company has earlier approved the de-subsidization of Northroof Ventures Private Limited (NVPL) (WOS) on Feb 23 2022 and the Company has also executed a Share Purchase Agreement of June 07 2024 for the sale of its entire holdings of the WOS subject to receipt of final one time settlement with its only lender or on receipt of Lenders NOC.Pursuant to the announcement made on Dec 30 2025 the Company along with the WOS has receive the No Dues Certificate from its lender and has fully settled and closed all its outstanding debt with the lender.Company further on Dec 31 2025 transferred its holdings and ceases its control over the NVPL and NVPL shall cease to be the subsidiary of the Company with immediate effect.Company shall however borne the condition subsequent/precedent for next few months including certain pending litigation/resolutions.