You are here: Home » News-CM » Companies » News
Business Standard

Sandhar Technologies enters in supplementary agreement for its JV

Capital Market 

Sandhar Technologies has entered into a Supplementary agreement to the Joint Venture (JV) Agreement dated 4 September 2017, between Sandbar Technologies (STL) and Amkin Group (AGPL) for establishing Sandhar Amkin Industries, (SAIPL) as a JV (50:50).

The said Supplementary Agreement dated 15 October 2020, proposes the following:

a) STL will convert its existing Loan of Rs.2.80 crore into equity share capital of SAIPL, consequent to that, the Equity Pattern of SAIPL shall stand modified to 57.2% and 42.8%.

b) STL has agreed that it may infuse additional equity upto Rs. 2.20 crore in SAIPL till 31 March 2021, towards growth capital of the JV.

c) AGPL, the JV Partner is entitled to bring the equity shareholding pattern to 50:50, as per the terms of Supplementary Agreement.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, October 17 2020. 13:06 IST