Nouveau Global Ventures will shut-down its wholly owned subsidiary in the name of ‘Nouveau Global Ventures FZE’ located at RAK Free Zone, UAE. The company has initiated the process and submitted the relevant documents with the RAK Free Zone, UAE.
The company has established ‘Nouveau Global Ventures FZE’ at RAK Free Zone and with the passage of time it has been realized by the management that business is unable to generate sufficient profits and outputs and it is unable to compete with larger competitors. Therefore rather than suffering through low profits the company had decided to shut down the operations of its subsidiary with effect from the expiry of its Commercial License for the year 2017.
Nouveau Global Ventures engages in the multimedia business in India. It operates through five segments -- Multimedia, Financial & Consultancy, Dealing in Shares & Securities, Trading Division, and Tele Shopping Division.
