Bharat Forge has been declared as the successful resolution
applicant by the Committee of Creditors of Sanghvi Forging & Engineering
(SFEL) on 15 February 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 i.e. 17 February 2021.
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