Update on voluntary liquidation of BF Precision Private Limited, a Wholly Owned Subsidiary of the Company.
CIEINDIA · price
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CIE Automotive India has informed the stock exchanges that the National Company Law Tribunal (NCLT), Chennai bench, has ordered the dissolution of its wholly owned subsidiary BF Precision Private Limited, effective June 5, 2025. BF Precision was engaged in cold forging of automobile components for Indian two-wheeler manufacturers, but its factory lease expired in September 2023 and the company had no future business prospects, prompting the board to initiate voluntary liquidation in March 2024. During the liquidation process, the company had only about Rs. 63 lakh in its bank account and a small income tax refund, with no claims received from any party other than the parent, CIE Automotive India. After settling liquidation costs, the residual amount was returned to CIE Automotive India, and the subsidiary's bank account has been formally closed.
This is a non-event for shareholders — BF Precision was already non-operational and financially insignificant, so its dissolution has no material impact on CIE Automotive India's consolidated business or earnings. Investors are unlikely to see any meaningful stock price reaction.