Voluntary Liquidation of the Company

Headquartered in Sweden, the Group was engaged in manufacturing, marketing and distributing baby care and personal hygiene products

Its Indian subsidiary (the Company) was incorporated in India in 2012 to manufacture, market and distribute baby care and personal hygiene products. The Company had set up a factory in the state of Maharashtra and various sales and warehouses across India, employing individuals on a permanent and contractual basis.

Nexdigm’s overall project management approach inculcated the management’s high hope that the project will be completed as per timeline despite the complications rendered by the pandemic. Undeterred by pandemic restrictions/lock-down, our project team ensured that the Company is dissolved by 31 December 2020 by resolving every critical issue appropriately and in accordance with the law, delivering to the management’s expectations.

As the Company was dissolved by 31 December 2020, it paved the way for the Group to claim potential tax relief to shareholders at their country of domicile, aggregating to EUR 14-15 million, maximizing the benefit to the shareholders of the Company.