MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

379 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Name of the Subsidiary Place of Incorporation and Place of Operation Proportion of ownership interest * As at 31 st March, 2023 2022 Kiinteistö Oy Kylpyläntorni 1 ###................................................................................................................................................................. Finland — 67.47% Kiinteistö Oy Spa Lofts 2 ###.......................................................................................................................................................................... Finland — 67.47% Kiinteistö Oy Spa Lofts 3 ###.......................................................................................................................................................................... Finland — 67.47% Kiinteistö Oy Kuusamon Pulkkajärvi 1 ###............................................................................................................................................ Finland — 67.47% Ownership Services Sweden Ab...................................................................................................................................................................... Sweden 67.18% 67.47% Are Villa 3 AB............................................................................................................................................................................................................... Sweden 67.18% 67.47% Holiday Club Sweden Ab Åre............................................................................................................................................................................. Sweden 67.18% 67.47% Holiday Club Sport and Spahotels AB........................................................................................................................................................ Sweden 67.18% 67.47% Holiday Club Resorts Rus LLC.......................................................................................................................................................................... Russia 67.18% 67.47% Holiday Club Canarias Investments S.L.U.................................................................................................................................................. Spain 67.18% 67.47% Holiday Club Canarias Sales & Marketing S.L.U................................................................................................................................... Spain 67.18% 67.47% Holiday Club Canarias Resort Management S.L.U.............................................................................................................................. Spain 67.18% 67.47% Holiday Club Canarias Vacation Club SLU................................................................................................................................................ Spain 67.18% 67.47% Arabian Dreams Hotel Apartments LLC @............................................................................................................................................... U.A.E 32.92% 33.06% Mahindra Holidays & Resorts India Limited ESOP Trust................................................................................................................ India 67.18% 67.47% Mahindra Holidays & Resorts Harihareshwar Limited (w.e.f. 23 rd August, 2022)......................................................... India 67.18% — Guestline Hospitality Management and Development Services Limited (w.e.f 2 nd December, 2022)............ India 66.10% — Mahindra Logistics Limited.................................................................................................................................................................................. India 58.09% 58.18% Lords Freight (India) Private Limited............................................................................................................................................................ India 57.54% 57.63% 2 x 2 Logistics Private Limited........................................................................................................................................................................ India 31.95% 32.00% MLL Express Services Private Limited (Formerly known as Meru Travel Solutions Private Limited)............ India 58.09% 100.00% MLL Mobility Private Limited (Formerly known as Meru Mobility Tech Private Limited)....................................... India 58.09% 100.00% V-Link Fleet Solutions Private Limited....................................................................................................................................................... India 58.09% 100.00% V-Link Automotive Services Private Limited........................................................................................................................................... India 58.09% 100.00% V-Link Freight Services Private Limited (w.e.f 9 th September, 2022)................................................................................... India 58.09% — MLL Global Logistics Limited (w.e.f 6 th December, 2022).............................................................................................................. U.K. 58.09% — Mahindra Two Wheelers Europe Holdings S.a.r.l................................................................................................................................... Luxembourg 100.00% 100.00% Peugeot Motocycles S.A.S. (upto 31 st January, 2023) **............................................................................................................... France — 100.00% Peugeot Motocycles Deutschland GmbH (upto 31 st January, 2023) **.............................................................................. Germany — 100.00% Peugeot Motocycles Italia S.p.A. (Under liquidation) (upto 31 st January, 2023) **..................................................... Italy — 100.00% PMTC Engineering SPA (upto 31 st January, 2023) **....................................................................................................................... Italy — 100.00% Mahindra Tractor Assembly, Inc. (Liquidated w.e.f 21 st October, 2022)............................................................................... U.S.A. — 100.00% Bristlecone Limited................................................................................................................................................................................................... Cayman Islands 97.19% 97.06% Bristlecone Consulting Limited........................................................................................................................................................................ Canada 97.19% 97.06% 39. 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.)