February 21, 2024
Zomato has initiated the liquidation course of for its Vietnam enterprise, Zomato Vietnam Firm Restricted (ZVCL), the meals supply platform stated in a regulatory submitting on the BSE on Thursday.

As per the submitting, Zomato said that “ZVCL shouldn’t be a fabric subsidiary of the corporate, and the dissolution of ZVCL won’t have an effect on the turnover/income of the corporate”.

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The announcement follows a earlier submitting by the corporate on Wednesday, stating it had commenced the liquidation course of for its enterprise in Poland, Gastronauci, on December 2.

The corporate stated that each step-down subsidiaries, that are presently present process liquidation, are usually not engaged in any lively enterprise operations and could have no affect on the general operations of the corporate.

The liquidation course of is predicted to be accomplished inside four-six months of receiving the approval.

ET had earlier reported that the Gurugram-based firm had shuttered nearly all of its worldwide subsidiaries together with these in Singapore, the UK, United States and South Africa. Zomato posted its second consecutive quarterly internet revenue of Rs 36 crore for the quarter ended September on an working income of Rs 2,848 crore.

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