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Mahindra & Mahindra's Canada-based associate Resson Aerospace files for a voluntary wind-up; shares down by 2.2%
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₹1597.80 per share on BSE at 11:30 am. “Resson has received a Certificate of Dissolution from Corporations Canada dated 20th September 2023, which was informed to the Company on 20th September 2023 at 8.19 p.m.
Consequent to the above, Resson has ceased to be in existence and has also ceased to be an Associate of the Company under the Indian Accounting Standards (IndAS) with effect from 20th September, 2023," said M&M in its stock exchange filing on Thursday. Post liquidation, the company will receive around approximately 4.7 million Canadian Dollars, equivalent to ₹28.7 crore, as distribution of proceeds towards Class C Preferred Shares held by the Company.
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