Bharat Forge Limited (BSE:500493) signed letter of intent to acquire Sanghvi Forging & Engineering Limited (BSE:533411) on February 17, 2021. Transaction is subject to approval from Honorable National Company law Tribunal. The Committee of Creditors of Sanghvi Forging & Engineering Limited has approved the transaction.

On April 26, 2021, Honorable National Company law Tribunal, Ahmedabad Bench has approved the transaction.