ZF Steering Gear India Ltd. Receives Permission for Leasehold Rights Assignment
ZF Steering Gear India Ltd. announced on March 19, 2026, that Maharashtra Industrial Development Corporation (MIDC) has granted permission for the assignment of leasehold rights between its wholly-owned subsidiaries. This update follows previous announcements on January 1, 2026, and July 26, 2025, regarding the proposed assignment.The assignment involves Plot No. E-3/2, MIDC Supa Parner Industrial Park, Ahilyanagar, Maharashtra, along with the factory building situated there. NexSteer Systems Private Limited currently holds these leasehold rights and will transfer them to DriveSys Systems Private Limited. Both NexSteer and DriveSys are wholly-owned subsidiaries of ZF Steering Gear India Ltd.
DriveSys executed the Lease Deed with MIDC on March 18, 2026, with NexSteer participating as the Confirming Party. The transaction was completed at an arm's length price, adhering to applicable laws. BSE Limited is notified under BSE Scrip Code 505163.
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