Bharat Forge: NCLT Approves Resolution Plan for Tork Motors

Bharat Forge Ltd announced that the National Company Law Tribunal (NCLT), Mumbai Bench-II, has approved the Resolution Plan for Tork Motors Private Limited. Tork Motors is a step-down subsidiary where Kalyani Powertrain Limited, a wholly owned subsidiary of Bharat Forge, holds a 64.29% equity stake. The approved plan involves the extinguishment of Tork's existing equity share capital, leading to a change in its ownership and management. Consequently, Tork Motors will no longer be a step-down subsidiary of Bharat Forge upon the plan's implementation. Further disclosures will be made as the plan is implemented or if material developments occur.