BF Utilities Limited Receives Intimation from Bharat Forge Limited on Shareholders Agreement Execution

BF Utilities Limited has received an intimation from Bharat Forge Limited about the execution of a Shareholders Agreement (SHA) between BFL, BF Industrial Solutions Limited, J S Auto Cast Foundry India Private Limited, and PI Opportunities Fund | Scheme II. The agreement includes non-compete and non-solicitation restrictions for certain identified entities affiliated with BFL/BFL Group, including the Company, with regards to ferrous casting business. The purpose of the agreement is to set out inter-se shareholder rights and obligations, including governance, information rights, transfer restrictions, and certain ancillary covenants undertaken by BFL Group to facilitate the transaction. BF Utilities Limited is not a party to the agreement and has no shareholding in BFL, BFISL, JSA, or Investor. The agreement imposes a restriction for the Company to undertake ferrous casting business in India, but business opportunities can be explored/undertaken outside India on rejection of the same by JS Auto Board of Directors.