In July this year,
L&T Finance Holdings had proposed a voluntary wind-up of one of its wholly-owned subsidiaries incorporated in Dubai, UAE.
The company had been incorporated to carry on the off-shore wealth management business.
L&T Capital Markets (Middle East) Ltd was subject to the laws of United Arab Emirates.
Pursuant to a letter from Dubai International Financial Center, the Dubai regulator, effective December 17, 2020 has been dissolved and ceased to exist. LTCM ME was not a material subsidiary of the company.
L&T Finance Holding ended at Rs85.40 per piece up 0.53% from its previous closing on the BSE.