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Ministry of Defence
As part of proposed strategic disinvestment of BEML Limited, based on the advise of Inter-Ministerial Group, Government
of India, BEML had appointed M/s Deloitte Haskins & Sells LLP, as consultants for advising, undertaking and implementing
the Demerger of identified surplus/ non-core assets of the Company which are not part of BEML strategic disinvestment.
For demerger, transfer and vesting of identified surplus/ non-core assets, BEML incorporated “BEML Land Assets Limited”
on 15.07.2021. (L70109KA2021GOI149486)
Later on, Petition was filed with Ministry of Corporate Affairs (MCA) for approval of Scheme of Arrangement and on 28.07.2022, MCA had passed order approving the Scheme of Arrangement for demerger of “BEML Land Assets Limited” (Resulting Company). In terms of Scheme of Arrangement, the identified surplus/non-core assets of BEML had been transferred at its book value to BEML Land Assets Limited on the appointed day of demerger that is on 25.08.2022.
In compliance with MCA order, BEML Limited had fixed 09.09.2022 as record date and accordingly, BLAL (Resulting Company) issued the shares in the ratio of 1:1 to all shareholders of BEML Limited whose name were recorded in the Register of Members on the above said date. Further, the said shares were listed on both stock exchanges (BSE & NSE) and trading has started on 19.04.2023.
The President of India, through the Department of Defence Production, Ministry of Defence, currently holds 54.03% equity stake in BLAL. The Company has been classified as a Schedule ‘C’ CPSE as of 22.01.2024, in accordance with Department of Public Enterprises guidelines for categorizing CPSEs created for asset management post-disinvestment.
Company’s properties are located in 12 Cities and 10 States across India. The title for transfer of the said properties are in progress. Central Government has amended section 8G of the Indian Stamp Act, 1899 granting exemption on payment of stamp duty for transfer of title deeds from one Government company to another Government company in the demerger process. Pursuant to the above, all State Governments have granted exemption from stamp duty except Government of Karnataka (GoK) which has granted 50% exemption and hence once again taken up with GoK for 100% stamp duty exemption.
Pursuant to the application made to MCA, the Company’s Corporate Identity Number (CIN) U70109KA2021GOI149486, had been changed by replacing the alphabet from ‘U’ to ‘L’ w.e.f. 25.04.2025 as “L70109KA2021GOI149486”. After this change, the investors can easily recognize with the Corporate Identity Number that BLAL is a Govt Listed Company.
23/1, 4th Main, SR Nagar, Bengaluru – 560 027, Karnataka, INDIA
Ministry of Defence, Government of India
