Board of Bharat Forge approves closure of its non-operational subsidiary in Israel

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved the closure of Indigenous IL, a non-operational subsidiary of the Company. IL was incorporated as a wholly-owned subsidiary of the Company in Israel in 2018 to explore investment opportunities in various technology start-up companies. IL has not commenced any business since its incorporation. Thus, no capital was contributed into IL. The closure of IL has been approved since there are no future business plans envisaged in Israel.