Mahindra’s unit in Bangladesh shut down
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ANI
M&M said in the statement that MBPL has called the last extraordinary general meeting of its shareholders on March 14, 2023 and approved the final voluntary winding up.
Mahindra Bangladesh Pvt Ltd (MBPL), a wholly owned subsidiary of auto major Mahindra & Mahindra (M&M), has completely ceased operations. The company gave this information on Tuesday. M&M said in the statement that MBPL has called the last extraordinary general meeting of its shareholders on March 14, 2023 and approved the final voluntary winding up. It added that MBPL has been superseded and ceased to exist with effect from March 14, 2023.
The shareholders of MBPL in a meeting held on September 14, 2022, had passed a resolution to wind up the entity and appoint a liquidator to complete the process of liquidation. Thereafter, the company did not conduct any business operations. MBPL had nil income from operations till March 31, 2022. The net income of MBPL was Rs 3.18 crore in the last financial year i.e. up to March 31, 2022. This was 0.01 percent of M&M’s consolidated net income.
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