Mahindra & Mahindra’s (M&M) step-down subsidiary -- Fifth Gear Ventures (FGVL) has been ceased to be a subsidiary of the company.
Earlier, the Mumbai Bench of the National Company Law Tribunal (NCLT), on February 11, 2025, had sanctioned the Composite Scheme of Amalgamation and Arrangement of FGVL, a wholly owned subsidiary of Mahindra First Choice Wheels, with Mahindra First Choice Wheels (MFCWL) and their Respective Shareholders, the certified copy of which was received on February 25, 2025.
FGVL was a wholly owned subsidiary of Mahindra First Choice Wheels, which is a subsidiary of Mahindra Holdings, a Wholly Owned Subsidiary of the company.
FGVL was engaged in the business of operating an automotive web for car and bike for retail sale as well as comparison services worldwide. MFCWL is engaged in the business of facilitating trading in used vehicles through its Franchise network and electronic platform and providing allied products and services, including online pricing guidance, used vehicles inspection services for insurance.
Mahindra & Mahindra is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
| Company Name | CMP |
|---|---|
| Tata MotorsPassenger | 359.25 |
| Maruti Suzuki | 13766.95 |
| Mahindra & Mahindra | 3370.50 |
| Hyundai Motor India | 1836.55 |
| Mercury Metals | 31.23 |
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