RITES Limited has officially announced the completion of the liquidation process for MMG – Metro Management Group Limited. This entity was a joint venture between RITES, the Delhi Metro Rail Corporation (DMRC), and the Israeli firm M/s. Poran Shrem Engineering and Appraisal Limited. The company has formally notified stakeholders regarding the closure of this joint venture, following up on preliminary information shared in December 2024.
Completion of Liquidation Process
RITES Limited has confirmed that MMG – Metro Management Group Limited has been successfully liquidated. This development follows the company’s previous notification issued on December 27, 2024, regarding the status of the joint venture. The closure marks the formal conclusion of the partnership between RITES, the Delhi Metro Rail Corporation (DMRC), and the Israeli engineering firm, M/s. Poran Shrem Engineering and Appraisal Limited.
Background of the Joint Venture
The joint venture was established to provide specialized management and appraisal services within the metro rail sector. By finalizing the liquidation, RITES has cleared its corporate records concerning this specific partnership. This action is part of the company’s ongoing administrative updates to ensure its portfolio of active business entities remains current and transparent for its shareholders and market participants.
Source: BSE
