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On Tuesday, Bharat Forge said that for the the purpose of reducing costs and to facilitate tax and fiscal consolidation, it is reorganising its European subsidiaries operations.
The company said in a BSE filing that “…with a view to streamline the operations of European subsidiaries of the company, CDP Bharat Forge GmbH, Germany (CDP BF), a direct subsidiary of the company in Germany, has undertaken a corporate reorganisation along with its subsidiaries.”
It said that such restructuring will be facilitating fiscal consolidation, tax consolidation, efficient management and reduction in cost of compliance, moreover it will not have any adverse impact on the consolidated financial of the company.
