Mahindra's SsangYong files for bankruptcy

Mahindra's SsangYong files for bankruptcy
In a regulatory filing, Mahindra said that SYMC has also applied for an Autonomous Restructuring Support (ARS) programme which is a court-designed process.
Mahindra & Mahindra's South Korean subsidiary SsangYong Motor Company (SYMC) has filed for rehabilitation procedure with the Seoul Bankruptcy Court.
In a regulatory filing, Mahindra said that SYMC has also applied for an Autonomous Restructuring Support (ARS) programme which is a court-designed process.
"SYMC has today intimated to the Korean Stock Exchange, about filing an application for commencement of rehabilitation procedure with the Seoul Bankruptcy Court under the Debtor Rehabilitation and Bankruptcy Act of South Korea," it said.

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