Jindal Saw has closed its subsidiary company incorporated in Spain ‘Jindal SAW Espana SL’ as the purpose for which it was created was not fulfilled.
Vesides, the company had sold/disposed its shareholding in JITF Shipping & Logistics (Singapore), which was wholly owned subsidiary of the company. The company has taken this step as the subsidiary was not doing any business and had no assets. Therefore, in order to conserve the resources of the company and to seek the rating up-gradation, the same was disposed off.
Jindal Saw manufactures and supplies iron and steel pipe products, fittings and accessories with various manufacturing facilities in various countries, including India, the United States, Europe and the United Arab Emirates (UAE).
