Kothari Industrial Corporation Ltd Signs MoU with RED21 S.L. and CMI for Joint Development of Footwear Development Coaching and Training Programs

Kothari Industrial Corporation Limited has entered into a Memorandum of Understanding (MoU) with RED21 S.L. (Licence Holder of Icad software) and CMI (Indian Agent for RED21) for jointly developing and offering Footwear Development Coaching and Training Programs using RED21’s Icad technology. The MoU is non-binding and valid for three (3) months or until a definitive agreement is executed. The Company will provide infrastructure, training facilities, administrative support, and coordination with government schemes. RED21/CMI will provide Icad classroom licenses, trainer training, curriculum support, and academic supervision. The revenue sharing arrangement is 60% for Kothari Industrial Corporation Limited and 40% for RED21.