The group said AI1 had remained inactive since the completion of the disposal of AI1’s entire equity interest in Vodafone Idea Ltd in 2020.
KUALA LUMPUR: Axiata Group Bhd
announced yesterday that it has no plans to make new investments in India.
The decision comes after the initiation of the voluntary winding up of Axiata Investments 1 (India) Ltd (AI1), which began on Dec 12, in accordance with the Companies Act 2001 of Mauritius.
In a filing with Bursa Malaysia, the group said AI1 had remained inactive since the completion of the disposal of AI1’s entire equity interest in Vodafone Idea Ltd 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,” the company 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. — Bernama
