Follow real-time updates on Union Budget 2023Catch exclusive videos on Union Budget 2023 from CNBC-TV18
Its net worth stood at Rs 10.46 crore, contributing 0.07 percent of consolidated net worth to the parent company.
L&T Finance Holdings on Monday said its subsidiary L&T Capital Markets (Middle East) Ltd or LTCM has been dissolved and ceased to exist. July 17, LTFH had informed about the voluntary winding-up of one of its wholly-owned subsidiary incorporated in Dubai to carry on the off-shore wealth management business, subject to applicable laws of United Arab Emirates.
Recommended ArticlesView All
The A to Z of FM Sitharaman's Budget 2023 — alphabetically yours
Feb 1, 2023 IST6 Min(s) Read
Nirmala Sitharaman’s big capex push a welcome step, but funding could prove a challenge
Feb 1, 2023 IST3 Min(s) Read
Old vs new tax regime after Budget 2023 — Check which is better for you
Feb 1, 2023 IST4 Min(s) Read
Budget 2023 | What is the National Data Governance Policy
Feb 1, 2023 IST2 Min(s) Read
”Further to the communication received from the official liquidator in Dubai on December 20, 2020, please note that pursuant to letter from Dubai International Financial Centre, the Dubai regulator, effective December 17, 2020, LTCM (ME) has been dissolved and ceased to exist,” LTFH said in a regulatory filing. It said the arm was not a material subsidiary of the company.
As of March 31, 2020, LTCM (ME) had a total income of Rs 20.99 crore equivalent to 0.14 percent of consolidated income of L&TFH. Its net worth stood at Rs 10.46 crore, contributing 0.07 percent of consolidated net worth to the parent company.
L&TFH shares were trading at Rs90.90apiece on BSE, down 0.44 percent from its previous close.