Financial Wire

Samvardhana Motherson International's Croatian Subsidiary Gets Dissolved; Shares Down 3%

-- Auto components manufacturer Samvardhana Motherson International (NSE:MOTHERSON, BOM:517334) said its indirect wholly-owned subsidiary SMRC Automotive Interior Modules Croatia has been dissolved, according to a Sunday filing to the Indian stock exchanges.

The company's shares were down 3% in early trade on Monday.

SMRC-Croatia applied to the Commercial Court of Zagreb for its dissolution, as it had no foreseeable new business and incurring high annual costs.

Subsequently, the Commercial Court of Zagreb dissolved the company from its register, rendering it dissolved from April 11.

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