Minda Corporation Limited has informed the Exchange about Amendment(s)
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Minda Corporation Limited signed a First Amendment to the Shareholders' Agreement with Vehicle Access Systems Technology LLC (USA) and their joint venture Minda Vast Access Systems Private Limited (MVAST) on May 22, 2026. The amendment modifies the original agreement dated April 30, 2015 and is effective from April 1, 2026. As a result, Minda Corporation Limited gains control over the Joint Venture Company MVAST. Both parties currently hold 50% shares each in MVAST. The company clarified this is not a related party transaction and is not done at arm's length since no related party involvement exists.
Minda Corporation now consolidates control over the MVAST joint venture, which could positively impact revenues and earnings from this subsidiary. This strengthens MCL's position in the access systems business without acquiring new shares.