To be set up under Defence Testing Infrastructure Scheme of Ministry of Defence
Mishra Dhatu Nigam announced that a joint venture agreement o incorporate a Section 8 Company under Companies Act, 2013) under Defence Testing Infrastructure Scheme (DTIS) promulgated by Department of Defence Production, Ministry of Defence has been executed between consortium of five (5) Companies i.e.Mishra Dhatu Nigam (MIDHANI); Bharat Dynamics; Hindustan Aeronautics; Yantra India; and PTC Industries along with Uttar Pradesh Expressways Industrial Development on 06 May 2024.The proposed registration of the Section 8 Company with the Ministry of Corporate Affairs will bear the name Advanced Materials (Defence) Testing Foundation' or any other similar name as the case maybe.
The main object of incorporation of Joint Venture Company under Defence Testing and Infrastructure Scheme promulgated by Ministry of Defence is to provide focused, structured, and significant thrust to indigenous Research, Development and Manufacturing in the Defence Sector, with special focus on participation of MSMEs and Startups, by providing state of the art testing facilities.
The company will subscribe to 20% stake in the joint venture company with capital investment of Rs 3 crore.
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