HMT Watches Ltd, once an iconic name in India's watchmaking industry, has filed an application to be struck off with the Ministry of Corporate Affairs (MCA) on January 5, 2026. According to a filing to the stock exchanges on Thursday by HMT Ltd, the company has applied to strike off the name of its wholly owned subsidiary from the records of the Registrar of Companies (RoC). The application has been made under Section 248 of the Companies Act, 2013, as reported by The Hindu BusinessLine.
The move is in furtherance of the approval granted by the Cabinet Committee on Economic Affairs (CCEA) on January 6, 2016, for the closure of three loss-making subsidiaries of HMT Ltd — HMT Watches Ltd, HMT Bearings Ltd, and HMT Chinar Watches Ltd. According to The Hindu BusinessLine, this formal step comes nearly a decade after the government's decision to shut down these underperforming units.
Under the strike-off process, the Registrar of Companies removes a company's name from its official register, effectively ending its legal existence. As reported by The Hindu BusinessLine, this process is typically undertaken when a company has ceased operations or remained inactive for a prolonged period. The strike-off prevents the entity from carrying out any further business unless restored through due legal process, marking the definitive end of the once-iconic Indian watchmaker's corporate existence.
