KUALA LUMPUR: Axiata Group Bhd
announced today that it has no plans to make new investments in India.
This decision comes after the initiation of the voluntary winding up of Axiata Investments 1 (AI1) (India) Ltd, in accordance with the Companies Act 2001 of Mauritius, which began on December 12.
In a filing with Bursa Malaysia, the group said AI1 has remained inactive since the completion of the disposal of the entire equity interest by AI1 in Vodafone Idea Limited in 2020.
"Axiata has no plans for new investments in India, and the management of AI1 has proposed a member's voluntary winding up of the company,” it said.
The member’s voluntary winding up of AI1 is expected to be completed between six and nine months or a longer period, subject to the availability of a tax clearance letter from the tax authority.
AI1 was incorporated in Mauritius on June 3, 1997, and its present stated capital is US$10,000 (USD1=RM4.08) comprising 10,000 ordinary shares of US$1 each. - Bernama
