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TVS Motor has taken steps to wind up the TVS Motor Company, Europe which is the special purpose vehicle (SPV) that was set up by the company.
The company in an annual report said that it had incorporated TVS Motor (TVSM) Company, Europe B V and TVS Motor Singapore Pte Ltd to serve as a special purpose vehicles for making and protecting investments made in overseas operations of PT TVS, TVS Motor said in annual report.
It also said, “Considering the change in the evaluation, the company has now initiated steps to voluntarily wind up TVSM Europe, subject to regulatory approvals/consents as may be required, both under Indian/Foreign Laws”.
