Bharat Forge Limited has announced that the National Company Law Tribunal (NCLT) has approved a Resolution Plan for its step-down subsidiary, Tork Motors Private Limited. The approved plan will result in the extinguishment of Tork’s existing equity share capital, leading to a consequential change in its ownership and management. Consequently, Tork will cease to be a step-down subsidiary of Bharat Forge upon the implementation of this plan.
NCLT Approves Resolution Plan for Tork Motors
Bharat Forge Limited informed the stock exchanges that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench-II, has approved a Resolution Plan for Tork Motors Private Limited. Tork is a step-down subsidiary of Bharat Forge. The order from the NCLT was dated November 6, 2026, and received by the company on November 12, 2026.
Impact on Ownership Structure
The approved Resolution Plan, sanctioned under Section 31 of the Insolvency and Bankruptcy Code, 2016, mandates the extinguishment of Tork’s existing equity share capital. This action will lead to a significant change in the ownership and management of Tork Motors. As a result, upon the implementation of this plan, Tork will no longer be considered a step-down subsidiary of Bharat Forge Limited.
Subsidiary Stake
Currently, Kalyani Powertrain Limited, a wholly owned subsidiary of Bharat Forge, holds 64.29% of the equity share capital of Tork Motors Private Limited. Further disclosures regarding the implementation of the Resolution Plan and any material developments will be made by the company as required.
Source: BSE
