Elgi Rubber Company Limited announced that its Board of Directors, in a meeting held on January 19, 2026, approved the initiation and filing of a voluntary liquidation/bankruptcy application for its wholly-owned step-down subsidiary, Rubber Resources B.V., located in the Netherlands. This decision follows a special resolution passed by the company's members on July 31, 2025, and a recommendation from the Audit Committee. The move is considered the most viable legal route for an orderly exit and is in the best interest of Elgi Rubber Company Limited. As of March 31, 2025, Rubber Resources B.V. contributed 26.51% to Elgi Rubber Company's revenue, amounting to ₹101.784 crore (1017.84 Million). However, it had a negative net worth of ₹72.084 crore (720.84 Million), representing 49.51% of the company's net worth. The liquidation process is expected to be completed by December 31, 2026, subject to regulatory approvals in the Netherlands. The company will inform the stock exchange upon completion. This transaction is outside of any existing Scheme of Arrangement.
