Premier Explosives has informed that an application made to the Registrar of Companies, Pune (ROC) for strike-off of BF Premier Energy Systems ('BF Premier'), a joint venture between Premier Explosives (PEL) and Kalyani Strategic Systems (KSSL) [a wholly owned subsidiary of Bharat Forge], has been duly approved by ROC vide letter dated November 25, 2023. Due to prolonged inoperativeness and the inability to achieve its intended objective, the joint venture partners - PEL and KSSL had initiated the strike-off process as per statutory regulations and in compliance with the applicable laws. It may be noted that the strike-off action has no material impact on the financials or operations of the Company.
The above information is a part of company’s filings submitted to BSE.
