Dhanlaxmi Fabrics has received approval to sell entire holding in its subsidiary -- DFL Fabrics. The Company holds 99.80% of holding in its Subsidiary -- DFL Fabrics and having regards to the fact that the subsidiary is not doing any business for which it is formed and has turned in to loss making concern since last 2 years. Further, the Business of the Subsidiary is also the same as it is of the Company and the losses of the subsidiary also affects the consolidated financials of the Company and selling it off would be rather in way generate cash flow for the Company. The meeting of the Board of Directors of the Company was held on November 11, 2023 has approved the same.
Dhanlaxmi Fabrics is a one stop shop for the garment exporters, fabric exporters and local garment manufacturers.
