MakeMyTrip subsidiary applies for liquidation

MakeMyTrip Travel Services Private Ltd, a 100 per cent subsidiary of Indian online travel company MakeMyTrip, has applied for liquidation under the Insolvency and Bankruptcy Code (IBC).

Officials in the know told Business Standard that the subsidiary, which had plans to operate non-scheduled flights, was being wound up as it had failed to take off. MakeMyTrip set up this entity in 2014 and it does not have any major liability, added the officials. Emails sent to the official liquidator and MakeMyTrip went unanswered.

In the recent past, a number of companies has filed for voluntary liquidation to shut their subsidiaries. Recently, two