Deep Industries Ltd enters into JV agreement

Deep Industries Limited ("The Company" and "DIL") have entered into Joint Venture arrangement to join hands for the purpose of submitting bid/tender with qualification for carrying out business for supplying Oil Field Equipments to Oil and Gas Industry in India.

Euro Gas Systems S.R.L ("EGS") has acquired 26% equity stake of Deep Onshore Drilling Services Private Limited ("DODSPL" or "Joint Venture Company") subsidiary company of DIL and balance 74% is held by DIL.

The Management of Joint Venture Agreement shall be carried out by the Directors as nominated/appointed by Deep Industries Limited as per the terms of the agreement from time to time.

In the event of Resignation, retirement of office by any directors of Joint Venture Company, DIL shall be entitled to nominate/appoint another Director in place of such director.

Source : Equity Bulls

Keywords

DeepIndustries JVArrangement EuroGasSystems