The main objectives include engaging in the business of logistics service provider and undertake activities relating to loading, unloading, in-transit storage and others
Notifying key corporate governance and expansion decisions following its board meeting, Meesho, the newly listed company, has stated that the board has approved the incorporation of a new wholly-owned subsidiary under the provisions of the Companies Act 2013.
The Company is in process of incorporating a subsidiary and the name application made by the company with Ministry of Corporate Affairs (MCA) is under process. Upon incorporation, the company shall make a separate disclosure disclosing the name of the entity, Meesho said in a regulatory filing.
The to be incorporated entity is yet to commence business operations and involves the commercial business of logistics service provider for the movement of goods. Share capital for the entity will be Rs 1 lakh and Meesho will hold 100 per cent stake in the entity.
“The main objects of the newly to be incorporated entity inter- alia include engaging in the business of logistics service provider for the movement of goods and undertake activities relating to loading, unloading, in-transit storage, handling and trans-shipment of goods through third-party service providers, as incidental or ancillary to transportation services,” the company’s statement added.
Earlier, senior management personnel of Meesho, Megha Agarwal who is the General Manager of Business at the company has decided to move on. The company said that she has tendered here resignation from the services last week.
Agarwal reported directly to the founder and Chief Executive Officer (CEO) Vidit Aatrey and had joined the company in 2019. She was elevated to lead Meesho’s growth function in 2022, as per the reports. She took over the role of general manager-business 2023.
The company has informed that Milan Partani, General Manager, User Growth and Content Commerce and senior management personnel (SMP) of Meesho will now assume the role of General Manager, Commerce platform. Partani continues to be SMP of the company, Meesho said in a regulatory filing.
