BF Utilities Ltd.

OVERVIEW

BF Utilities Ltd. (BFUL) is a part of USD 3 billion Kalyani Group.

BFUL earlier operated in two business segments – Infrastructure Business and Investment Business. BFUL has undergone business restructuring by way of a Composite Scheme of Arrangement.

Under the said business restructuring, the Infrastructure Business has remained with BFUL and Investment Business has been transferred to BF Investment Ltd.

HISTORY

The Company was incorporated on September 15, 2000 under the Companies Act, 1956 in the State of Maharashtra.

The Company was born out of a scheme of demerger with Bharat Forge Limited (BFL). The Scheme of Arrangement was approved by the Hon’ble High Court of Judicature at Bombay on January 17, 2001. Under the said Scheme, the Investments (listed as well as unlisted) and Wind Mills Division of the BFL were demerged and transferred to the Company, effective from March 1, 2001.

As per the Scheme, the Company allotted on June 16, 2001, one fully paid Equity Share of the Company of Rs.5 (free of cost) to the shareholders of BFL for one fully paid Equity Share of Rs.10 of BFL held on the Record Date i.e. April 16, 2001.