Mahindra’s Canada-Based Associate Firm Winds Up

New Delhi: 

Amid a huge diplomatic firestorm between the two countries, the Canada-based associate firm of Indian auto giant Mahindra & Mahindra, Resson Aerospace Corporation, has ceased to exist, the company said in its regulatory filing. The timing of the move has led to speculations on social media, but the reason isn’t yet clear. Mahindra & Mahindra hasn’t issued any statement on the same.

The Mumbai-based automaker held an 11.18 per cent stake in the firm, which had filed for a voluntary winding-up.

The Mumbai-based automaker held an 11.18 per cent stake in the firm, which had filed for a voluntary winding-up.

“Resson has received a Certificate of Dissolution from Corporations Canada dated September 20, 2023, which was informed to the company,” Mahindra & Mahindra (M&M) said in a regulatory filing.