Bharat Forge subsidiary BF Industrial Solutions becomes Public Limited company

BF Industrial Solutions was acquired as SPV for the purpose of implementation of Resolution Plan approved by NCLT, Ahmedabad for Sanghvi Forging & Engineering.

Jun 23, 2021 04:06 IST India Infoline News Service

Bharat Forge
Bharat Forge Limited informed the exchanges Wednesday that BF Industrial Solutions Private Limited (formerly known as Nouveau Power and Infrastructure Private Limited), a wholly-owned subsidiary of the company has been converted into a Public Limited Company with the name ‘BF Industrial Solutions Limited’ with effect from June 22, 2021.

BF Industrial Solutions Limited was acquired as a Special Purpose Vehicle (SPV) for the purpose of implementation of Resolution Plan approved by National Company Law Tribunal, Ahmedabad Bench (NCLT) for Sanghvi Forging & Engineering Limited (SFEL) in terms of the provision of Insolvency and Bankruptcy Code, 2016.

Bharat Forge Ltd ended at Rs731.60 per piece down by Rs9.55 or 1.29% from its previous closing of Rs741.15 peer piece on the BSE.

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