Lumax Auto Technologies Ltd. amends JV agreement.

Lumax Auto Technologies Ltd. recently amended its existing Joint Venture Agreement which was entered with Ituran Location and Control Limited (JV Partner).

Lumax and Ituran holds equal percentage (50:50) of shareholding of the Equity Share Capital of Lumax Ituran Telematics Private Limited (Joint Venture Company)

The amendment to the JV agreement is that the Chairman shall be nominated by Lumax and have the second and casting vote.

Accordingly, Lumax Ituran Telematics Private Limited has become a Subsidiary of the Company from its existing status of Associate Company.

EQUITYBULLS