CONSOLIDATED ACCOUNTS 445 43. Disclosure of interest in Subsidiaries and interest of Non Controlling Interest (Continued) Name of the Subsidiary Place of Incorporation and Place of Operation Proportion of ownership interest* As at 31st March, 2024 2023 Mahindra Holdings Limited.................................................................................................................................................................................. India 100.00% 100.00% Mahindra Overseas Investment Company (Mauritius) Limited................................................................................................... Mauritius 100.00% 100.00% Mahindra Integrated Business Solutions Private Limited.............................................................................................................. India 100.00% 100.00% Mahindra eMarket Limited................................................................................................................................................................................... India 83.47% 83.47% Mahindra Construction Company Limited................................................................................................................................................. India 65.21% 65.27% Officemartindia.com Limited............................................................................................................................................................................... India 50.00% 50.00% Mahindra & Mahindra Contech Limited @................................................................................................................................................ India 46.66% 46.66% Blue Planet Integrated Waste Solutions Limited (formerly known as Mahindra Waste To Energy Solutions Limited) (upto 27th December, 2023) ^^........................................................................................................................... India — 100.00% Mahindra Sustainable Energy Private Limited (formerly known as Mahindra Telecom Energy Management Services Private Limited)..................................................................................................................................................... India 100.00% 100.00% New Democratic Electoral Trust @............................................................................................................................................................... India 33.36% 33.36% Sunrise Initiatives Trust......................................................................................................................................................................................... India 100.00% 100.00% Mumbai Mantra Media Limited......................................................................................................................................................................... India 100.00% 100.00% Mahindra Marine Private Limited (upto 5th June, 2023)................................................................................................................ India — 81.58% Mahindra & Mahindra Benefit Trust.............................................................................................................................................................. India 100.00% 100.00% Mahindra & Mahindra ESOP Trust.................................................................................................................................................................. India 100.00% 100.00% * excluding shares issued to ESOP Trusts of the respective entities / their holding companies but not allotted to employees. @ entities have been treated as subsidiaries even though the Group holds less than half of the voting power in these entities as it has unilateral control over the investees due to other factors that give power like control over composition of board, management control etc. $ In addition to JPY750 million Common Stock (which represents 33.33% of the Common stock), the Company owns the entire JPY2250 million “Class A” shares (shares with no voting rights); “Class A” shares have rights over dividend and liquidation on an equal basis with Common Stock. ^ During the year ended March 2024, the Controlling status was changed from associate to subsidiary. ^^ During the year ended March 2024, the Controlling status was changed from subsidiary to associate. ^^^ During the year ended March 2024, the Controlling status was changed from subsidiary to joint venture. # Entity has been merged with Mitsubishi Mahindra Agricultural Machinery co., Ltd. ## Entities have been merged with MLL Mobility Private Limited. ### Entity has been merged with Holiday Club Resorts Oy. $$ Voting power in the company is different from the ownership interests. ** 100 shares are held by investor. *** Entity has been disposed off and ceased to be a Subsidiary.
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