Bajel Projects Ltd and Bajaj Electricals Limited Execute Three-Year Licensing and Manufacturing Agreements

On March 12, 2024, Bajel Projects Ltd ('Company') and Bajaj Electricals Limited ('Demerged Company') executed two agreements in accordance with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and the Scheme of Arrangement between both entities. The first agreement, a License Agreement, grants the Company the right to use Bajaj's trademark for a period of three years. The Company will pay a 1% royalty on net sales from third-party goods bearing this trademark. The second agreement allows the Company to manufacture and sell certain products to Bajaj Electricals. These transactions, valued up to Rs. 125 crore, are compliant with arm's length principles and do not involve any share ownership between the two parties.