Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s (M&M) wholly owned subsidiary -- Mahindra Engineering and Chemical Products (MECPL) has completed the sale of entire stake aggregating 49% of the paid-up Equity Share Capital held in Mahindra Tsubaki Conveyor Systems (MTC) to Tsubakimoto Bulk Systems Corp, for a consideration of Rs 58.89 crore. MTC has ceased to be an associate of MECPL.

M&M 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.