Shemaroo Entertainment has confirmed the closure of its two foreign wholly-owned subsidiary companies in the US and UK.
TelevisionPost reports that the two companies Shemaroo Entertainment (UK) and Shemaroo Entertainment INC, USA, will be wound down as per a regulatory filing.
It is said that the the closure of the two companies will not affect its core business and is unlikely to face any significant impact on the accounts/accounting policies.
The company’s CEO, Hiren Gada said that the company has two subsidiaries in the US – one is operational and the other non-operational – the latter will be closed down. Similarly in the UK, the company has syndication deals in place with various platforms in the market.
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