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The Chennai bench of the National Company Law Tribunal cleared the merger of KSS Abhishek Safety Systems with Takata India, forming Joyson Anand Abhishek Safety Systems as part of a tri-party joint venture.
Joyson Safety Systems announced the formation of a tri-party joint venture merging KSS Abhishek Safety Systems and Takata India Pvt. Ltd. into Joyson ANAND Abhishek Safety Systems Private Ltd., with Joyson holding 65%, ANAND 30%, and Abhishek Industries 5%.
Anand Group announced the formation of a tri-party joint venture, Joyson Anand Abhishek Safety Systems, merging KSS Abhishek Safety Systems and Takata India. Anand Group will increase its stake to 30% in the combined entity.