Paramount Communications Ltd has informed BSE that the Wholly Owned Subsidiary AEI Cables Limited, United Kingdom has gone into administration. The Company have been informed by the secured lenders that the administrator has finalized the sale of company?s assets in consultation with them as per the extant UK laws and that the sale transaction was closed on February 28, 2014. Thus AEI Cables Ltd., United Kingdom is no longer a subsidiary of Paramount Communications Limited.
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