Sakthi Sugars today said that its subsidiary Tilan Sugar has been dissolved under the easy exit scheme notified by the Corporate Affairs Ministry.
"Tilan Sugar, subsidiary of the company, has been struck off in the register maintained by the Registrar of Companies, Tamil Nadu, Chennai," the company said in a filing to the Bombay Stock Exchange (BSE).
The company is dissolved under the easy exit scheme notified by the Corporate Affairs Ministry with retrospective effect from October 20, 2010, the filing added.
The Coimbatore-based company has four sugar plants -- three in Tamil Nadu and one plant in Orissa -- with an aggregate capacity of 19,000 tonne of cane crush per day.
Its other business interests include manufacturing of industrial alcohol, soya products and power generation.
The stocks of the company today closed at Rs 39.40, down 1.99% from its previous close on the BSE.