Future Consumer forms joint venture with Tilda Hain India

For manufacture and distribution of various food products

Future Consumer has entered into a Joint Venture Agreement dated 19 January, 2017 with Tilda Hain India (Hain India), a part of Hain Celestial Group, Inc., New York, USA (JV Agreement), for undertaking the business of manufacturing, marketing, trading, selling and distributing various food products in the health and wellness category such as chips, non-dairy beverages, straws and infant / toddler foods, by way of forming a Joint Venture Company (JV Company) as per the terms and conditions agreed under the said JV Agreement.

The additional important terms and conditions of said J V Agreement inter alia are as follows:

 

1. The Company and Hain India each shall hold 50.00% of the paid-up share capital of the JV Company.

2. The Company and Hain India inter alia shall have the right:

i) To nominate three Directors each, on the Board of the JV Company
ii) To vote on few customary items in the Reserved Matters as provided under the JV Agreement
3. Hain India is not related to any of the Promoter and/or Promoter Group entities of the Company.
4. The J V Agreement executed by and between the Company and Hain India, does not fall within the ambit of 'Related Party Transactions'.

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