>>10355938its one of the three variants to come out of Leo Toys' run on MOTU. they were the manufacturers of MOTU figures in India across the 90s. the other two variants are a tan armor skeletor (pic related) and an all black armor and cowl skeletor. Dan made a good vid about it a few years back.
Speaking of which its kind of crazy how so many of these franchises go onto lead a second life in other countries. Its not something I see spoken of often but just think, by the time Masters hit India in the 90s, the franchise had burned out completely in the States. With its last hold outs being South America and Europe by then. So India just got everything from Filmation upto NA dumped into their lap all at once. It must have been a wild experience.