New Delhi: Mahindra and Mahindra, the leading Indian automotive manufacturing corporation, has announced about the cessation of its non-operating subsidiary Mahindra Mexico S. De. R. L. Mahindra Mexico had filed for voluntary liquidation through the Indian company’s wholly owned subsidiary Mahindra USA Inc. (MUSA).

Mahindra Mexico, which deals in various channels including tractors and other farm machinery has been non-operating for over two years thus to simplify organizational structure Mahindra Mexico had filed for voluntary liquidation. MUSA has informed Mahindra and Mahindra about the voluntary liquidation of Mahindra Mexico, which has received final approval by the Members of Mahindra Mexico effective from March 28, 2024,” the company said in a regulatory regulatory filing.

The company informed its investors that the Revenue from operations of Mahindra Mexico for the year ended March 31, 2023 was Nil. Post liquidation, MUSA is entitled to receive on estimate around INR 1.82 crore as distribution towards 99.99% of shareholding held by MUSA in Mahindra Mexico.

The company added that Mahindra Mexico contributed 0.003% of the consolidated net worth of the Company excluding non-controlling interest.