Adani Enterprises on Tuesday (4 October 2022) announced that it has incorporated two wholly owned subsidiaries, Alwar Alluvial Resources and Adani Disruptive Ventures on 3 October 2022 and 4 October 2022 respectively.
The company incorporated a wholly owned subsidiary, Alwar Alluvial Resources (AARL), on 3 October 2022, with an initial authorized & paid-up share capital of Rs 10 lakh each, to carry on manufacturing and processing of minerals, TiO2 Slag manufacturing, pigment manufacturing etc. and to do all necessary and incidental activities in this regard.
The other subsidiary being incorporated is Adani Disruptive Ventures (ADVL), on 4 October 2022, with an initial authorized & paid-up share capital of Rs 5 lakh each. ADVL will carry on the business of buying, selling, reselling, importing, exporting, transporting, storing, promoting, marketing or supplying, trading, dealing in any manner whatsoever in all type of goods, products, merchandise, services and commodities of every description & to do all necessary and incidental activities in this regard.
Adani Enterprises said that both the companies will commence its business operations in due course.