MCV India says that Square Enix India has closed up shop without ever having shipped a game. This was just confirmed by Square Enix India VP Atul Vibhandik.
To be fair, they were set up to build relationships with local studios to grow Square Enix's mobile game business, and they only had about six employees on staff. They were only around for about a year before closing.
Rumor is that Square Enix's Latin American office, which was built for a similar purpose, might also be closed, with projects being shut down in with the closure.
Maybe Square Enix really is giving up on the mobile stuff and focusing more on "heavy JRPGs" and "core" audiences.