Bharat Forge and NTPC have decided to close down its Joint Venture (JV) Company — BF-NTPC Energy Systems (BF-NTPC). Both the companies decided to close down its JV company as from its incorporation it has not commenced any business activity. Accordingly, BF-NTPC has initiated a voluntary liquidation process under Insolvency and Bankruptcy code, 2016.
The JV Company is a 51:49 ratio between the company and NTPC, which is incorporated in June 2008 for business of manufacturing, buying & selling equipment relating to Power Sector.
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.