Dhaka:
The workers of Mahind Bangladesh Pvt Ltd (MBPL), a wholly-owned unit of automobile company Mahindra and Mahinda (M&M), have been completely shut down. The company gave this information on Tuesday.
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M&M said in statements that MBPL has called the final general meeting of its account on March 14, 2023 and approved the final voluntary opening. It added that MBPL has been carved out and ceased to exist with effect from March 14, 2023.
The allottees of MBPL held a meeting on September 14, 2022 to wind up a unit and appoint a liquidator to carry out the process of winding up. Thereafter, the company did not conduct any business operations.
MBPL’s work up to March 31, 2022 had come to nil. The net income of MBPL was Rs.3.18 crore in the last financial year i.e. up to March 31, 2022. This was 0.01 percent of M&M’s consolidated net income.