The vertical was first demerged from Mahindra Trucks and Buses Ltd and then merged with M&M.

In a filing to the BSE on Monday, M&M said the scheme of arrangement has become effective from March 30, 2014.

The Bombay High Court had approved the scheme of arrangement between M&M and MTBL on March 7.

The Mumbai-based firm had last year approved the de-merger of its trucks and buses operations from MTBL into M&M to derive greater synergies.

As per the approved scheme, all assets and liabilities of MTBL have been transferred to M&M. MTBL had registered an accumulated loss of Rs 920 crore till FY'13, which will get into M&M account.

M&M shares were trading at Rs 978.20 a piece on the BSE in afternoon trade, up 1.13 per cent from the previous close.


Latest News  from Business News Desk