Zomato Completed Shut Down of its South Africa Subsidiary

zomato-shut-down-of-south-africa-subsidiary

News Synopsis

Food Delivery company Zomato has completely shut down its South Africa subsidiary this month. According to the BSE filing, the company has confirmed that Zomato South Africa Proprietory Ltd has been deregistered. The process of dissolution was started in November last year. Zomato has said in a filing last year that the South Africa subsidiary of the company does not have any active business operations and that its closure would not affect the turnover or revenue of the company in any way. Earlier, Zomato has also shut down all of its international subsidiaries including the ones in Singapore and the United Kingdom. In August last year, the company also closed its subsidiary in the USA by selling its stake in Nexatable Inc. for $100,000. Zomato is shutting down its international subsidiaries under its cleaning up exercise. Currently, its UAE subsidiary is still active.#TWN

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