ITC’s wholly owned subsidiary - BFIL Finance vide its letter dated November 28, 2011, advised that BFIL Securities, which was under voluntary winding up, has been dissolved effective November 25, 2011. BFIL Securities is a wholly owned subsidiary of BFIL Finance.
Recently, ITC had acquired 96.825% of Wimco's equity share capital from Russell Credit, a wholly owned subsidiary of the company. The company had acquired the entire shareholding compromising 9,12,38,170 equity shares of Rs 1 each in Wimco’s share capital.
Pursuant to this acquisition, Wimco had become a direct subsidiary of the company with effect from September 29, 2011.
