Deals9 Dec 2025, 04:02 pm
Jyoti Ltd. Signs Technology Transfer Agreement with German Individual
AI Summary
Jyoti Ltd. has executed a Technology Transfer Agreement with Mr. Vlado Ostovic from Germany. The agreement grants Jyoti Ltd. a perpetual, exclusive, non-transferable license for complete Know-how required to design, engineer, manufacture, assemble, test, and market the Motors for Electric Bus Drive (MEBD). Mr. Ostovic will receive Euro 200,000 as per the terms and conditions of the agreement.
Key Highlights
- Jyoti Ltd. signs Technology Transfer Agreement with Mr. Vlado Ostovic from Germany.
- The agreement grants Jyoti Ltd. a perpetual, exclusive, non-transferable license for complete Know-how of MEBD.
- The agreement involves a payment of Euro 200,000 to Mr. Ostovic.
- This deal provides Jyoti Ltd. the opportunity to expand its offering to include MEBD.
- The transaction does not fall under related party transactions and does not involve any acquisition.