Exhibit 21.1
GBS Enterprises Incorporated, a Nevada corporation (OTCBB: GBSX)
List of GBSX Subsidiaries as of March 4, 2014
1. | GROUP Business Software AG, a German corporation, 50.1% owned by GBSX (“GROUP”) |
i. | GBS Corp., a Delaware corporation, 100% owned by GROUP |
a. | Permessa Corp., a Delaware corporation 100% owned by GBS Corp. |
iii. | Relavis Corp., a New York corporation, 100% owned by GROUP |
2. | Pavone GmbH,a German corporation, 100% owned by GBSX |
3. | GBS India Pty. Ltd., an Indian corporation, 100% owned by GBSX |