Redington (India) Ltd, is planning to transfer its after-sales support services business to a wholly-owned subsidiary.
The company has sought the shareholders' approval to transfer the entire support services business of the company or substantial part of it, along with its employees as well as assets and liabilities to its wholly-owned subsidiary Ensure Support Services (India) Ltd.
The transfer of support services business is part of the restructuring options aimed at effective management with focus on growth and development of each line of businesses.
"With an objective to capture opportunities in the evolving Indian economy through a leadership in focused value businesses and driving high growth businesses, it is proposed to carry out the after-sales support service business through Ensure Support Services (India) Limited, a wholly-owned subsidiary with effect from a suitable date," said the company.
The proposed transfer of the assets and liabilities of the service division would be either by way of itemised transfer or any other suitable mode as may be decided by the board of directors or its committee, added the company.
Redington, which is a distribution partner to various multinational IT and related product manufacturers, has operations in channel distribution and after-sales support services. It has 66 fully-owned service centres and 314 centres owned by authorised service partners. It provides pre-sales, warranty and post-warranty services to global brands.