Event Details
Minda Corporation Limited has entered into a First Amendment Agreement on Friday, May 22, 2026, with Vehicle Access Systems Technology LLC, U.S.A. and Minda Vast Access Systems Private Limited (MVAST - Joint Venture Company, India) to amend the terms and conditions of the original Shareholder Agreement dated April 30, 2015.
The Amendment Agreement is effective from April 1, 2026, and was executed on mutually agreed terms and conditions.
Parties Involved
- Minda Corporation Limited (MCL), India
- Vehicle Access Systems Technology LLC (VAST), U.S.A.
- Minda Vast Access Systems Private Limited (MVAST), Joint Venture Company, India
Shareholding Structure
Minda Corporation Ltd. (MCL) and Vehicle Access Systems Technology LLC, U.S.A. (VAST) each hold 50% shares in Minda Vast Access Systems Private Limited, the Joint Venture Company (MVAST).
Significant Terms
Due to the amendment, Minda Corporation Limited gains control over the Joint Venture Company, Minda Vast Access Systems Private Limited, effective from April 1, 2026.
Related Party Status
The parties are not related to promoter/promoter group/group companies in any manner. The transaction does not fall within related party transactions.
Additional Information
The disclosure includes Annexure-I with required details as per SEBI regulations. The information will be made available on the company's website at www.sparkminda.com.