Acquisitions15 Feb 2026, 10:01 pm
Amber Enterprises India Ltd Subsidiary Acquires Control Over Joint Venture Partner Stelltek
AI Summary
Amber Enterprises India Ltd's subsidiary, IL JIN Electronics (India) Private Limited, has executed an Amendment Agreement to the Joint Venture Agreement dated 18 September 2023 with Stelltek Technologies Private Limited and Nexxbase Marketing Private Limited. This amendment grants IL JIN the right to nominate and appoint the majority of Directors on the Board of Stelltek, thereby exercising control over the management and policy decisions of Stelltek. As a result, Stelltek ceases to be a joint venture and becomes a step-down subsidiary of Amber Enterprises India Ltd.
Key Highlights
- IL JIN Electronics (India) Private Limited, a subsidiary of Amber Enterprises India Ltd, has acquired control over Stelltek Technologies Private Limited.
- The acquisition was made through an Amendment Agreement to the Joint Venture Agreement dated 18 September 2023.
- IL JIN has been granted the right to nominate and appoint the majority of Directors on the Board of Stelltek.
- Stelltek has ceased to be a joint venture and has become a step-down subsidiary of Amber Enterprises India Ltd.
- The acquisition does not involve any change in shareholding or capital structure.