Mahindra winds up MSPL subsidiary in Bangladesh

Renewable energy company Mahindra Susten Private Limited (MSPL), a wholly owned subsidiary of Mahindra Holdings Limited (MHL), has liquidated its subsidiary in Bangladesh.

The company in a statement said that it has convened the final extra ordinary general meeting of its shareholders on March 15, 2022 and has approved the final voluntary winding up of Mahindra Susten Bangladesh Private Limited (MSBPL).

MSBPL has now been liquidated and has, therefore, ceased to be in existence with effect from March 15, 2022, Mahindra mentioned in an official statement.

The shareholders of MSBPL at their meeting held on October 24, 2021, had passed a resolution proposing winding up of MSBPL and appointment of a Liquidator for completing the process of winding up. Thereafter, MSBPL has not undertaken any business operations, the statement said.

According to the company, the net worth of MSBPL, as on March 31, 2021 was Taka 930,029 (Rs 7,99,825) constituting 0.0002 per cent of the consolidated net worth of the company.

The move is in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated.

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