Him Teknoforge Ltd to Call Off Joint Venture and Strike Off Associate Company
Him Teknoforge Ltd has confirmed the withdrawal from its Joint Venture (JV) Agreement with Italian counterparts, which had been established through M/s Dinamico Axles & Drive Wheels Private Limited. The company confirmed that since no capital has been infused to date, and the JV Company has not commenced significant business operations, the company intends to apply for striking off the JV Company's name from the records of the Registrar of Companies under the Companies Act, 2013.The company formally consented to the striking off process by passing a resolution through circulation on April 13, 2026.
The financial and operational details regarding the proposed strike off of the joint venture associate company are outlined below:
| Particulars | Details |
|---|---|
| Name of the Entity | Dinamico Axles & Drive Wheels Private Limited |
| Relationship with Him Teknoforge Ltd. | Joint Venture Company (Associate company) |
| Shareholding Interest | 40% (Note: This shareholding has not been subscribed or paid for) |
| Nature of Event | Striking off of the JV/Associate Company |
| Primary Reason for Action | The joint venture is being called off, and the JV Company has not initiated any business operations. |
| Financial Impact | No financial impact, as the company has not made any investment or infused any capital into the JV company. |
| Promoter Interest | The promoter/promoter group are not interested in the entity. |
The process of calling off the Joint Venture Agreement marks the end of the association with the Italian counterparts concerning the establishment of Dinamico Axles & Drive Wheels Private Limited.
Stock Price Movement
As of the close of trade on Monday, Him Teknoforge Ltd settled at ₹204.75, completing the day 1.46% higher. The shares demonstrated significant movement throughout the session, trading between a low of ₹201.05 and a high of ₹212.00.Source:
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