NexSteer Systems Private Limited, a Wholly Owned Subsidiary of the Company, after the receipt of Building Completion Certificate/ Occupancy Certificate from MIDC, Ahilyanagar, has submitted ....
ZFSTEERING · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
ZF Steering Gear India informed BSE that its wholly owned subsidiary NexSteer Systems has received the Building Completion/Occupancy Certificate from MIDC, Ahilyanagar, and has applied to MIDC for transferring the leasehold rights of a plot and factory building (at MIDC Supa Parner Industrial Park) to another wholly owned subsidiary, DriveSys Systems. The transfer is for DriveSys's Aluminium Project and will happen at arm's length price, pending MIDC approval. Both NexSteer and DriveSys are wholly owned subsidiaries of ZF India. The company clarified that since NexSteer has not started any operations and this is an internal transfer between two subsidiaries, there are no financial or operational implications for ZF India.
Neutral for shareholders — this is an internal restructuring between two wholly owned subsidiaries with no financial or operational impact on the parent company, and it does not involve any external order, revenue, or capital change.