annual-report-FY2020

359 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 Name of the Subsidiary Place of Incorporation and Place of Operation Proportion of ownership interest * Proportion of voting power where different As at 31 st March, As at 31 st March, 2020 2019 2020 2019 Bristlecone (Singapore) Pte. Limited. ....................................................... Singapore 75.14% 75.17% 100.00% 100.00% Mahindra Intertrade Limited..................................................................... India 100.00% 100.00% Mahindra Steel Service Centre Limited.................................................... India 61.00% 61.00% Mahindra Electrical Steel Private Limited................................................ India 100.00% 100.00% Mahindra Auto Steel Private Limited....................................................... India 51.00% 51.00% Mahindra MiddleEast Electrical Steel Service Centre (FZC)........................ U.A.E. 90.00% 90.00% Mahindra MSTC Recycling Private Limited.............................................. India 50.00% 50.00% PT Mahindra Accelo Steel Indonesia........................................................ Indonesia 99.96% 99.96% Mahindra Holdings Limited....................................................................... India 100.00% 100.00% Mahindra Overseas Investment Company (Mauritius) Limited.............. Mauritius 100.00% 100.00% Mahindra Racing UK Limited.................................................................... U.K. 100.00% 100.00% Mahindra Susten Private Limited.............................................................. India 100.00% 100.00% Mahindra Renewables Private Limited..................................................... India 100.00% 100.00% Cleansolar Renewable Energy Private Limited (upto 27 March 2020).. India — 100.00% Mahindra Teqo Private Limited (formerly known as MachinePulse India 100.00% 100.00% Tech Private Limited).................................................................................. Divine Solren Private Limited.................................................................... India 100.00% 100.00% Neo Solren Private Limited........................................................................ India 100.00% 100.00% Marvel Solren Private Limited (upto 14 August 2019) ^........................ India — 100.00% Astra Solren Private Limited...................................................................... India 100.00% 100.00% Mega Suryaurja Private Limited................................................................ India 100.00% 100.00% Mahindra Engineering and Chemical Products Limited......................... India 100.00% 100.00% Retail Initiative Holdings Limited. ............................................................ India 100.00% 100.00% Mahindra Retail Limited............................................................................ India 100.00% 100.00% Mahindra Defence Systems Limited. ........................................................ India 100.00% 100.00% Mahindra First Choice Wheels Limited..................................................... India 51.00% 51.00% Fifth Gear Ventures Limited (w.e.f. 17 January 2020)............................ India 51.00% 100.00% Mahindra First Choice Services Limited.................................................... India 100.00% 100.00% Mahindra Namaste Limited....................................................................... India 88.35% 88.35% 100.00% 100.00% Mahindra Integrated Business Solutions Private Limited....................... India 100.00% 100.00% Mahindra ‘Electoral Trust’ Company........................................................ India 100.00% 100.00% Mahindra eMarket Limited....................................................................... India 83.47% 83.47% 100.00% 100.00% Orizonte Business Solutions Limited (merged with Smartshift Logistics Solutions Private Limited). ......................................................... India 92.24% 98.66% Mahindra Construction Company Limited............................................... India 65.38% 65.39% 91.66% 91.66% Officemartindia.com Limited..................................................................... India 50.00% 50.00% Mahindra & Mahindra Contech Limited @.............................................. India 46.66% 46.66% Mumbai Mantra Media Limited................................................................ India 100.00% 100.00% Mahindra Airways Limited........................................................................ India 100.00% 100.00% Mahindra Marine Private Limited............................................................. India 81.58% 81.58% Mahindra & Mahindra Financial Services Limited ESOP Trust................ India 51.39% 51.43% 100.00% 100.00% Mahindra Holidays & Resorts India Limited ESOP Trust......................... India 67.63% 67.64% 100.00% 100.00% 35. Disclosure of interest in Subsidiaries and interest of Non Controlling Interest (contd.): (a) Details of the Group’s subsidiaries at the end of the reporting period are as follows: (contd.):