On 28 December 2018
Mahindra & Mahindra announced that the NCLT has approved the scheme of amalgamation of Kismat Developers (Transferor Company-1), Topical Builders (Transferor Company-2), Associate Companies of Mahindra Lifespace Developers (MLDL) and Raigad Industrial Business Park (Transferor Company-3), a wholly owned subsidiary of MLDL with Mahindra World City (Maharashtra) (Tranferee Company), a wholly owned subsidiary of MLDL.
Consequent to the scheme becoming effective, the assets and liabilities of the Transferor Companies are vested with Transferee Company. Accordingly, following companies have become subsidiary of MLDL and of the ultimate holding company of MLDL i.e. Mahindra & Mahindra effective 28 December 2017 -
Deep Mangal Developers, Moonshine Construction and Mahindra Constructions Company.
Further, Raigad Industrial Business Park, a wholly owned subsidiary of MLDL and Transferor Company -3 , has ceased to exist as a wholly owned subsidiary of MLDL and a subsidiary of the Company, with effect from 28 December 2017.
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