Indus Aluminium Recyclers Limited has entered into a Memorandum of Understanding (MOU) with Sufin Limited for a marketing tie-up arrangement. This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Nature of Agreement
The company has collaborated with Sufin Limited for the promotion, marketing, sale and supply of products manufactured, procured and sold by the company through Sufin Limited's B2B marketplace platform (www.Intsufin.com) and mobile device application (L&L - SuFin).
Counterparty Details
Sufin Limited is a company incorporated under the Companies Act, 2013 with its registered office at Ground Floor, L&T House, N.M. Marg, Ballard Estate, Mumbai - 400 001 and office at The Metropolitan, 3rd & 4th Floor, E-Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051.
Financial Consideration
The company will pay:
- ₹5,00,000 (Five Lakh Rupees) upon signing of the MOU
- ₹10,00,000 (Ten Lakh Rupees) in 4 quarterly installments of ₹2,50,000 each
Scope and Terms
The agreement covers Indian markets only. Sufin Limited will provide the company with a limited, non-exclusive, non-transferable, revocable (only in accordance with termination clauses), and non-sub-licensable right to access and use the SuFin Platform and the configured company microsite for displaying, promoting, marketing and selling products.
The company retains exclusive responsibility for manufacturing, sourcing, supply of products, pricing, order acceptance, invoicing, fulfilment, dispatch, delivery, after-sales service, warranty, liability and all product-related obligations for transactions undertaken through the platform, at its own risk and cost.
Expected Benefits
The rationale for the agreement is to increase promotion, marketing, sale and supply of the company's products through Sufin Limited's B2B marketplace platform and mobile application.