WHOLLY OWNED FOREIGN & INDIAN SUBSIDIARIES
Jasch (North America) Co. ("JNAC") was incorporated in the United States of America as a wholly owned subsidiary of Jasch Industries Ltd in accordance with laws of that country. Jasch Industries Ltd has disinvested its entire shareholding in JNAC and repatriated the proceeds thereof. Consequently, w.e.f. 01-07-2020, JNAC and INDEV Gauging Systems Inc ("INDEV" - which was a wholly owned subsidiary of JNAC), have ceased to be subsidiaries of Jasch Industries Ltd. The Financial Statements of INDEV have been consolidated with those of JNAC upto 30-06-2019. In turn, financial statements of JNAC have been consolidated with those of Jasch Industries Ltd upto 30-06-2019.
In addition, the Company had an Indian wholly-owned Indian Subsidiary i.e. Jasch Automation Ltd. ("JAL"). Financial Statements of JAL were also consolidated with those of Jasch Industries Ltd, in accordance with laws applicable in India from time to time. JAL has applied for striking off its name from the Register of Members.