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Mahindra Forgings Ltd. (MFL) had been a wholly owned subsidiary of Mahindra &
Mahindra Ltd. and has recently acquired Chakan unit of
Amforge Industries Ltd., a public company listed on the
Bombay Stock Exchange, under the scheme of arrangement
(demerger). The said Scheme was sanctioned by the Mumbay
High Court by its order dated March 21, 2006 and the
Scheme was made effective on April 3, 2006 by filing the
certified copy of the order dated March 21, 2006 with the
Registrar of Companies on April 3, 2006. The Court Order
sanctioning the scheme is placed on the website. Pursuant
to allotment of shares of MFL to shareholders of Amforge
Industries Ltd. and to Mahindra & Mahindra Ltd.,
shareholding of Mahindra & Mahindra has been reduced
to 47.11%.
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