Summit Securities has sold shares of Sudarshan Electronics & TV to its wholly owned subsidiary company viz. Instant Holdings on March 05, 2013 at cost. As a result, Sudarshan Electronics & TV ceases to be the subsidiary company of Summit Securities with effect from March 05, 2013.
Earlier the board of company at its meeting held on February 13, 2013 has approved to de-link its wholly owned subsidiary company viz. Sudarshan Electronics & TV and sell the shares to another wholly owned subsidiary company viz. Instant Holdings at cost.
Summit Securities is a non banking financial company (NBFC). The company is primarily engaged in investment in securities. The company's income is mainly derived from the dividends on investments held by it.
