Space Incubatrics Technologies Limited announced that the Board of Directors of the company in their meeting held on January 31, 2023, approved the proposal of dissolution/winding-up of wholly owned Foreign subsidiary - M/s Sybly International FZE. The company has become defunct and has no realizable assets. The Board of Directors shall do all such acts, deeds and things, which may be necessary including filing of necessary application with Reserve Bank of India and other concerned appropriate authorities in respect of dissolution/winding up of the wholly owned subsidiary company situated outside India.