Bharat Forge has informed that the Company has been declared as the successful resolution applicant by the Committee of Creditors of Sanghvi Forging & Engineering Limited (SFEL) on February 15, 2021, subject to obtaining necessary regulatory approvals, including approval from the National Company Law Tribunal. The Company has accepted the Letter of Intent for SFEL under the Corporate Insolvency Resolution Process ('CIRP') of the Insolvency and Bankruptcy Code 2016 ('IBC'), today, February 17, 2021.
The above information is a part of company’s filings submitted to BSE.
