In the year 2001 Company had invested GBP161 (Rs. 10,942), 23.33% in Joint Venture, Penrillian Limited, UK. The Joint Venture, Penrillian Limited, informed the Company that due to decline in its financial position, the Joint Venture has decided to go for Voluntary Liquidation and appointed Insolvency Practitioner to commence the procedure for the same with effect from 10th May, 2017.
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