Skip to content
Search

Latest Stories

Mahindra's associate firm in Canada winds up

Indian firm held an 11.18 per cent stake in Resson Aerospace Corporation

Mahindra's associate firm in Canada winds up
Easterneye.Biz Staff
By Easterneye.Biz StaffSep 21, 2023
Easterneye.Biz Staff
See Full Bio

MAHINDRA & MAHINDRA on Thursday (21) said its Canada-based associate firm Resson Aerospace Corporation has ceased to exist.

The Mumbai-based automaker held an 11.18 per cent stake in the firm which had filed for a voluntary winding-up.

"Resson has received a Certificate of Dissolution from Corporations Canada dated September 20, 2023, which was informed to the company," Mahindra & Mahindra (M&M) said in a regulatory filing.

Consequent to this, Resson has ceased to be in existence and has also ceased to be an associate of the company with effect from September 20, 2023, it added.

"Upon liquidation of Resson, the company is entitled to receive approximately 4.7 million Canadian Dollars as distribution of proceeds towards Class C Preferred Shares held by the company," M&M said.

Shares of M&M were trading about three per cent down on the BSE on Thursday.

(PTI)

british newspaperbritish asiancurrent affairsrecent newsnews websiteuk newspaper

Related News

Alphonso-mango-uk
Business

Middle East conflict pushes up prices for London's favourite mango

india-gold-duty-hike
Business

India hikes gold, silver duties as Middle East war drains foreign reserves

india-fifa-worldcup
Football

Millions of Indian fans 'may miss FIFA World Cup 2026'

rss-india-foreign-outreach
News

India's RSS launches foreign outreach to reshape reputation

More For You

UK Electricity

Global investment in datacentres is nearing £740 billion a year as AI expansion accelerates

iStock

6 per cent of UK electricity now goes to datacentres as AI demand surges

  • Datacentres now consume around 6 per cent of electricity in both the UK and US, according to new research.
  • Global investment in datacentres is nearing £740 billion a year as AI expansion accelerates.
  • Campaigners warn unchecked AI growth could increase energy bills, water stress and fossil fuel dependence.

The rapid rise of artificial intelligence is no longer just reshaping the tech industry. It is also beginning to reshape national power systems.

New research suggests datacentres powering AI tools, cloud computing and internet services are now consuming around 6 per cent of all electricity generated in both the UK and the US, adding fresh pressure to already strained energy grids.

Keep ReadingShow less