Avonmore Capital to dispose-off subsidiary companies

Avonmore Capital & Management Services has received an approval for the proposal to transfer of its stake in the non-operating subsidiary companies namely ‘Latitude 23 Communications’ & ‘Almondz Infosystem’ and such transfer will result in cessation of such companies as the subsidiaries of the company. The Board of Directors of the company at their meeting held on November 14, 2018, approved the same.

The company is registered with the Reserve Bank of India to carry on the Business of a Non-Banking Financial Institution without accepting public deposits and presently, the company is involved in NBFC activities and sub-broker advisory services.