Maithan Alloys’ board has approved the proposal for incorporating a wholly owned subsidiary (WOS) company, in terms of section 2(87) of the Companies Act, 2013. It is proposed to take up the announced expansion project, primarily for manganese based ferro alloys, under this wholly owned subsidiary. This shall enjoy the tax benefits recently announced by the Government of India. The Board of Directors of the company at its meeting held on October 31, 2019, approved the same.
Maithan Alloys is a holding company. The company is engaged in the business of manufacturing and exporting of all three bulk Ferro alloys, including Ferro Silicon, Ferro Manganese and Silico Manganese, and has a captive power plant.
