Joint Venture2 Aug 2024, 11:42 pm
Tube Investments of India Ltd Enters Joint Venture Agreement with Classic Legends Private Limited for BSA Trademark Licensing in India
AI Summary
Tube Investments of India Ltd (TI) has entered into a Joint Venture Agreement with Classic Legends Private Limited (CLPL) to incorporate a joint venture company (JVC) in India for licensing the BSA trademarks. The JVC will enable CLPL to manufacture and/or sell motorcycles, parts, and accessories in India. TI and CLPL will invest Rs. 0.50 lakhs each in the equity shares of the JVC at the face value of Rs. 10/- per equity share, holding 50% each in the equity share capital of the JVC.
Key Highlights
- Tube Investments of India Ltd and Classic Legends Private Limited entered into a Joint Venture Agreement to incorporate a joint venture company in India.
- The joint venture company will facilitate the licensing of BSA trademarks for the manufacture and/or sale of motorcycles, parts, and accessories in India.
- Both TI and CLPL will invest Rs. 0.50 lakhs each in the equity shares of the joint venture company.
- The joint venture company will have a balanced capital structure with TI and CLPL holding 50% each in the equity share capital.