Scheme of Merger by absorption of Mahindra Investment Company (Mauritius) Limited, a wholly owned subsidiary of the Company (Transferor Company), with the Company (Transferee Company) and their respective shareholders, under Section 234 read with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. |
We hereby inform you that the Board of Directors of the Company, at its meeting held today, i.e. 29th July 2026, accorded its approval for the sale, transfer, and disposal of the Company's Truck & Bus Division together with its employees, assets, intellectual property, licenses, permits, insurance policies, contracts, interests, rights, and liabilities ('MTBD Business Undertaking'), as a going concern on a slump sale basis, as per Section 2(103) and other applicable provisions of the Income-tax Act, 2025, to SML Mahindra Limited, a listed subsidiary of the Company, under a Business Transfer Agreement ('BTA'), for a consideration of Rs. 525 crore, subject to working capital adjustments as set out in BTA |