Sandhar Technologies has entered into a Supplementary agreement to the Joint Venture (JV) Agreement dated 4 September 2017, between Sandbar Technologies (STL) and Amkin Group (AGPL) for establishing Sandhar Amkin Industries, (SAIPL) as a JV (50:50).
The said Supplementary Agreement dated 15 October 2020, proposes the following:
a) STL will convert its existing Loan of Rs.2.80 crore into equity share capital of SAIPL, consequent to that, the Equity Pattern of SAIPL shall stand modified to 57.2% and 42.8%.
b) STL has agreed that it may infuse additional equity upto Rs. 2.20 crore in SAIPL till 31 March 2021, towards growth capital of the JV.
c) AGPL, the JV Partner is entitled to bring the equity shareholding pattern to 50:50, as per the terms of Supplementary Agreement.
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