Atul Auto has signed the term-sheet with JBM Industries for entering into a Joint Venture Agreement ('JVA') with an object to expand/ develop the business of Three Wheeler Electric Autos with the blend of respective expertise.
The existing Wholly Owned Subsidiary of the Company namely, Atul Green Automotive will be utilised for this purpose.
Further, the term-sheet is subject to the parties agreeing upon and executing the definitive JVA which will include detailed terms and conditions in relation to the Proposed Transactions.
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