Joint Venture24 Mar 2026, 09:30 pm
Josts Engineering Company Ltd: Board Approves Divestment in Joint Venture and Incorporation of Wholly Owned Subsidiary
AI Summary
Josts Engineering Company Ltd announced the outcomes of its Board Meeting held on 24th March, 2026. The Board approved the divestment of 50% equity investment in its Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited, to Kay Cee Energy & Infra Limited at INR 4.124 per share. The Board also approved the incorporation of a Wholly Owned Subsidiary in India. Additionally, the Board took note of the resignation of Mr. Pranesh Bhandari as the Chief Financial Officer and appointed Mr. K C Somani as his successor.
Key Highlights
- Board approved the divestment of 50% equity in Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited, to Kay Cee Energy & Infra Limited at INR 4.124 per share.
- The divestment will result in SRESPL ceasing to be a Joint Venture.
- Board approved the incorporation of a Wholly Owned Subsidiary in India.
- Mr. Pranesh Bhandari resigned as the Chief Financial Officer and Key Managerial Personnel, with Mr. K C Somani appointed as his successor.