Zomato Receives Final Approval From Indonesian Govt To Liquidate Subsidiary
India, April 30 -- Foodtech major Zomato on Tuesday (April 20) said it has received the go ahead from the Indonesian government to liquidate its subsidiary in the Southeast Asian country.
In a regulatory filing, the company said it received the final decree, approving the liquidation of Zomato Media Indonesia, from Indonesia's ministry of law on April 29.
". We would like to inform that the ministry of law of Indonesia has issued a final decree letter on April 29, 2024 approving liquidation of PT. Zomato Media Indonesia ("PTZMI"), wholly owned subsidiary of Zomato Limited w.e.f. March 21, 2024," said the company.
The approval comes a year after the company kickstarted the liquidation process of the subsidiary. The Indonesian arm did no...
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