Intimation of signing of First Amendment Agreement on May 22, 2026 to Original Shareholder Agreement dated April 30, 2015 between the Company and Vehicle Access Systems LLC, USA.
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Minda Corporation Limited has signed a First Amendment Agreement on May 22, 2026 with Vehicle Access Systems LLC, USA and their joint venture company Minda Vast Access Systems Private Limited (MVAST). The amendment modifies the terms of the original Shareholder Agreement dated April 30, 2015, effective from April 1, 2026. The key change is that Minda Corporation Limited gains control over the Joint Venture Company MVAST. Both parties continue to hold 50% shares each in the JV. The transaction is not a related party transaction and the parties are not related to the promoter or promoter group.
This amendment gives Minda Corporation operational control over the MVAST joint venture while maintaining equal ownership with VAST. This could be positive for shareholders as it consolidates management control without changing the ownership structure.