Veedol Corporation Limited has officially announced the closure of its wholly owned subsidiary, Veedol Deutschland GmbH, in Germany. This follows up on a prior disclosure regarding the subsidiary's closure made on May 18, 2024. The liquidation process has now been formally entered into the German commercial register, signifying the completion of the closure.

The company has stated that this closure will not have any impact on its ongoing business operations. Further details regarding the transaction, as required by SEBI regulations, have been provided in Annexure-I. These details confirm that the subsidiary contributed nil to the turnover, revenue, income, and net worth of Veedol Corporation Limited during the last financial year. The closure is not a sale or disposal, hence considerations like agreement date, completion date, consideration received, buyer details, related party transactions, or scheme of arrangement compliance are not applicable.