Commercial Engineers & Body Builders Company has signed a Share Subscription and Shareholders Agreement for the formation of a joint venture between Commercial Engineers & Body Builders Co. ('Company'), Jupiter Wagons, KOVIS D.O.O and KOVIS IND D.O.O and the consequent subscription of equity shares of the joint venture company, Jupiter Kovis (INDIA) ('JVC') incorporated for the purpose of the joint venture.
Jupiter Kovis (India) will initially be engaged in the business of sale of brake discs and will subsequently set up a manufacturing facility in India to manufacture brake discs.
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