Joint Venture3 Feb 2026, 05:02 pm
Kalyani Steels Bound by Non-Compete, Non-Solicitation Restrictions in Bharat Forge's Shareholders Agreement
AI Summary
Kalyani Steels Limited has received an intimation from Bharat Forge Limited about the execution of a Shareholders Agreement (SHA) with BF Industrial Solutions Limited, J S Auto Cast Foundry India Private Limited, and Pl Opportunities Fund | Scheme Il. The agreement binds certain identified entities affiliated with BFL, including Kalyani Steels, under non-compete and non-solicitation restrictions regarding ferrous casting business. The agreement's purpose is to set out inter-se shareholder rights and obligations, including governance, information rights, transfer restrictions, and ancillary covenants.
Key Highlights
- Kalyani Steels Limited, Bharat Forge Limited, BF Industrial Solutions Limited, J S Auto Cast Foundry India Private Limited, and Pl Opportunities Fund | Scheme Il have executed a Shareholders Agreement.
- The agreement includes non-compete and non-solicitation restrictions for ferrous casting business in India.
- The purpose of the agreement is to establish inter-se shareholder rights and obligations, governance, information rights, transfer restrictions, and ancillary covenants.
- Kalyani Steels, BFL, BF Industrial Solutions Limited, and J S Auto Cast Foundry India Private Limited are under common control.
- As of the disclosure date, Kalyani Steels has no shareholding in BFL, BF Industrial Solutions Limited, J S Auto Cast Foundry India Private Limited, or Pl Opportunities Fund | Scheme Il.