COMMERCIAL ENGINEERS & BODY BUILDERS forms JV to mfr & sell disc brakes

JABALPUR | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Jabalpur headquartered commercial vehicles manufacturer Commercial Engineers & Body Builders Co. Ltd, said of having entered into joint-venture with Jupiter Wagons Ltd, KOVIS D.O.O. and KOVIS INDIA D.O.O. to form a company to manufacture and sell disc-brakes in India.

Regulatory filing as submitted by the company to the Indian Bourses read that, the company signed/entered into a Share Subscription and Shareholders Agreement for the formation of a joint venture between Commercial Engineers & Body Builders Co. Ltd (“Company”), Jupiter Wagons Ltd, KOVIS DOD and KOVIS IND DOD and the consequent subscription of equity shares of the joint venture company, Jupiter Kovis (INDIA) Pvt Ltd (“WC”) incorporated for the purpose of the joint venture.

The detailed disclosure as required under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time (“Listing Regulations”) read with SEBI circular dated September 09, 2015, bearing reference no. CIR/CFD/CMD/4/2015 (“Disclosure Circular”) is enclosed as Annexure-A.


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