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The Ministry of Corporate Affairs approved the incorporation of BEL IAI AeroSystems, a joint venture between Bharat Electronics (40% stake) and Israel Aerospace Industries. The JV will provide repair and maintenance for the Medium-Range Surface to Air Missile System in India.
“The Ministry of Corporate Affairs today approved the incorporation of BEL IAI AeroSystems Pvt Ltd., a joint venture between Bharat Electronics Ltd. and Israel Aerospace Industries Ltd.”ndtvprofit.com
Summarized from public sources; check the original articles before acting on it.